As a first step, the two companies have said they will look at collaborating on photovoltaic projects in China, in addition to identifying project investment opportunities for CPINE in the U.S. and other, unidentified, global markets.
"This cooperation leverages our advantages in the domestic solar power industry, and helps First Solar further expand its business presence in China," commented Li Xiaolin, chairwoman of China Power International Holding Limited, CPNE and CPINE.
TK Kallenbach, president of First Solar’s components business group added: "Both China and the U.S. are important markets with vast potential for sustainable solar energy, and this agreement can serve as a model for U.S.-China collaboration on renewable energy. Our agreement with CPINE also includes the potential to expand to other international markets, which could open up tremendous opportunities."
China Power International Holding Limited New Energy Development Supervisor, China Power New Energy Development Company Limited CEO, China Power International New Energy General Manager Liu Genyu and TK Kallenbach signed the agreement at a ceremony in Beijing today with Li Xiaolin.
CPINE plans to install two gigawatts (GW) worth of solar projects in China by 2020, while First Solar has a 2.4 GW pipeline in North America.