Solar Trust of America and SolarHybrid form PV JV

The company, which is also the developer of the 968 megawatt solar thermal Blythe Solar Power Project, announced that it has signed a letter of intent with the German company to develop, build and manage solar projects in North America. These will include stand-alone photovoltaic sites, as well as projects that combine concentrated solar power with photovoltaics.

"Developing CSP and PV in tandem will allow us to achieve better cost and production efficiencies than with either technology on its own," explained Uwe T. Schmidt, chairman and CEO of Solar Trust of America.

Under the terms of the letter of intent the new company will operate out of Solar TrustÂ’s Oakland office. Additional terms of the joint venture were not disclosed.

Schmidt went on to say: "From the outset, our plan has been to bring utility-scale solar power to the growing U.S. market as a vertically integrated engineering, construction and services provider that is technology agnostic.

"With over 2,000 MW of permitted sites in the pipeline, Solar Trust of America is delighted to partner with SolarHybrid AG to accelerate our expansion into the photovoltaics marketplace."