Geenex announces $500 million US PV investment

Geenex has said it will invest a total of $200 million in installing photovoltaic projects in North Carolina over the next two years. The first project is set to be 50 MW in size and the generated energy is expected to be sold to Dominion Power.

Overall, the company aims to invest at least $500 million in the U.S. over the next five years. CEO Georg Veit said that Geenex will, as far as possible, source labor and equipment locally. He declined to divulge any further information, including project specifics, or whether the entire sum will be invested in North Carolina, or spread across other states.

In addition to installing utility-scale projects, Geenex has said it will build a "Solar Center of Excellence" to use as an education and training center. Again, no further information was provided.

"Solar is a rapidly growing industry even in a time when other industries decline and lay off workers. Our vision is to inform, educate, enable and providing a long term approach which will bring the solar industry to the next level," stated Veit.