Sky Solar and Sinoma aim to install 1 GW of PV under new company

Named Sinoma International Photovoltaic Engineering Technology Co., Ltd., the registered capital will be RMB30 million. It aims to establish, operate and manage solar power projects of around one gigawatt (GW) in the next three years.

Sky Solar said the deal came about in order for the companies to make full “use of each party’s advantages”, including the “senior” financing platform and “rich experience” in overseas large-scale projects contracting of Sinoma, and the application, development, quality control, sales, operation and management of solar power plants of Sky Solar.

Sinoma will hold a majority share – 68 percent – having said it will contribute RMB20.4 million to the project; Sky Solar will contribute RMB9.6 million, with a share of 32 percent. Once the joint venture is established, Sky Solar says it will conduct close cooperation with Sky Solar’s PV engineering technology center in Germany and the quality control center in Changzhou, China to provide EPC and turn-key services of solar power plants.