On the day the U.S. Securities and Exchange Commission (SEC) announced charges against a former VP of First Solar, the Arizona-based thin film giant launched a joint venture (JV) with German solar company Belectric.
The JV called PV Projects will be tasked with developing schemes in north Africa and Europe as well as projects under 20 MW in North America, including Belectric’s 280 MWp U.S. pipeline.
Under the terms of the JV, which is yet to be approved by the relevant merger authorities, First Solar would supply projects with its thin-film modules, selected equipment such as its solar trackers and ‘value added services.’
Belectric would supply Balance of Systems and service capability with EPC being provided by both companies on a project by project basis.
A press release announcing the launch of the JV emphasized its non-exclusive nature, leaving both partners free to pursue opportunities independently.
The proposed JV marks a ten-year association between the two companies, which recently inaugurated the 128 MWp Templin plant in Germany, the largest installation of First Solar modules in Europe after the U.S. company supplied around 80 per cent of the 1,400 MWp of modules installed by Belectric.