Hong Kongs Jun Yang Solar Power Investments has announced that is has entered into an official partnership with Lightway Power Holdings with a view to invest in up to 680 MW of PV projects throughout China between now and 2016.
Lightway Group is reported to have tabled a PV pipeline that will see the company complete an 80 MW solar project in 2014, add an additional 200 MW in 2015 and another 400 MW in 2016. The companys grandiose plans are reliant on Jun Yangs financial backing.
Speaking following the announcement of the partnership Memorandum, Jun Yangs CEO, Jiang You, said: "The Group strives to develop its solar PV power generation projects in China, and has accumulated valuable experiences and completed grid-connected PV projects in distributed solar PV power generation sector.
"The signing of this Memorandum with Lightway offers good business opportunities for the Group to expand its solar business in China and consolidate our leading position in distributed solar PV power generation industry. In addition, the overseas operations of Lightway in Europe, US and Asian Pacific region could lend support to the Group to tap into international PV power generation markets."
The terms of the Memorandum are yet to be finalized, but what is known is that Lightway Group will perform all principal project development, construction, operation and maintenance of the PV installations.