[UPDATE] Greentech plans to invest in the U.S.


The Danish solar developer is currently refocusing its business model to other regions across the globe to try and overcome the consequences of Europe’s weakened economy.

Greentech is planning to invest in a solar project of between 8 and 10 MW in Palm Springs, California, which is already operational, Laura Emma Pacifici, head of corporate communication at Greentech told pv magazine. The company declined to give any further details.

Investment for the plant is set to be provided by the Danish company and U.K. investment firm Foresight Group LLP.

In March, Foresight and Greentech agreed to invest in 100 MW in the United Sates, mainly in California, according to a Bloomberg report.

At present, the company is also evaluating the possibility of investing in Mexico, Japan, South Africa and the Middle East, Pacifici told pv magazine. No more more information was revelead regarding the specifics on the firm’s future investment plans.

Greentech is a Copenhagen-based renewable energy developer with operating installations in Denmark, Germany, Italy, Poland and Spain. It is specialized in wind, solar and hydroelectric power, biomass, biogas and water treatment. It currently has 318 MW of installed capacity in renewable energy projects and it aims to have 1 GW by 2014.