The agreement has been entered into by Ergon Solair LLP, a partnership of American, European and Taiwanese photovoltaic managers, and Georgia New Energy Ltd, a project developer from Georgia. The goal is to install solar parks, worth a total of over 1.5 GW, in the Black Sea region, Mediterranean countries and the U.S. using both crystalline and III V technology (tandem cells).
The new joint venture will also see Georgias first photovoltaic module production facility established. Construction is scheduled to begin in mid-2012. Located in the industrial area of Rustavi, the facility is expected to cover 1,000 square meters when complete. A 100 megawatt (MW) solar park and testing site will be installed adjacent to it. The company is also establishing management offices, in central Rustavi.
In a statement released, Georgia PV Project explained that initial production capacity will be 100 MW, and that pre-arrangements for financing of the first phase have been made with U.S. lenders.
The first modules are expected to come off the line in the second half of 2013. By 2014, the aim is to ramp up to 300 MW annually. "Further increase of capacity in second and third construction cycle are expected with final output programmed at > 1 GW yearly, such capacity increase will be determined after first cycle construction is completed," said the parties.
While Georgia New Energy will run the production facility and local management, Ergon Solair will exclusively supply all the required machinery, materials and components for both the facility and photovoltaic installations.
No further details were immediately available.