The solar opportunities, say the companies, will make use of Solar Semiconductor’s photovoltaic (PV) solar panels and related equipment in both ground-mounted and rooftop applications. Additionally, under the terms of the agreement, the two companies will work together to develop solar opportunities in selected international locations.
"We are very excited about this joint development activity with Conex Energy," said Hari Surapaneni, president and CEO of Solar Semiconductor. "The Conex team brings a strong track record of energy project development and proven financing expertise, which will enhance our ability to complete successful solar energy developments in California and Ontario, Canada."
Solar Semiconductor will assume primary responsibility for the design and supply of the photovoltaic solar panels, and balance of system equipment. Conex Energy, on the other hand, will assume responsibility for management of development activities, including but not limited to optimizing project energy sales, negotiating interconnection arrangements, securing project financing, and optimizing tax planning opportunities.