But the company continues to remain very active in its home market of Germany, and today the firm announced the completion of Europes largest thin film photovoltaic power plant that has been supplied by First Solar.
Remarkably, Belectric claims that the 1.5 million First Solar modules and 114 SMA inverters were installed in only four months. Meanwhile, a consortium of banks, led by German institutions Bayerische Landesbank and UniCredit made an investment of 200 million (US$ 260.8 million) in the power plant.
The solar park is the second largest installation in Germany to date, and the largest thin film power plant, according to a statement released by the international legal practice Norton Rose, which advised on the project.
The photovoltaic power plant is located in the region of Brandenburg, outside of Germanys capital Berlin. The site is a former Russian military airfield, called Gross Dölln.
In announcing the completion of the power plant, Belectric CEO Bernhard Beck chose to highlight the grid stabilizing properties of decentralized photovoltaic production. Grid expansion requirements are also curtailed and "dynamic reactive power control" can assist further, the statement from Belectric reads.
"Decentralized solar power plants will play a decisive role in the future structure of the power market in Germany, said Beck. "Power from plants like this is the most economical method of generating power from solar energy. At present, we have almost reached the power production cost level of onshore wind."