ZNShine Solar signs $680 million PV deal as UK-China bond strengthens

Share

The occasion of Chinese Premier Li Keqiang's visit to the U.K. to meet his British counterpart David Cameron was marked by a series of trade deals between the two nations, including a $680 million solar agreement between ZNShine Solar and MAP Environmental.

ZNShine Solar, a China-based manufacturer of mono- and polycrystalline PV modules, concluded the deal with British renewable energy company MAP Environmental last week, around about the same time the Cameron and Keqiang were shaking hands on trade agreements worth more than $20 billion.

For ZNShine Solar, the agreement will see the two companies collaborate on a series of solar development projects in the U.K., with 400 MW of new PV capacity targeted. The deal was approved by the U.K. government at the British Commonwealth Building in London, and is expected to generate 500 construction and maintenance jobs, as well as 50 new positions in design, administration and operation roles.

The two companies will cooperate in the field of project development and solar module supply, and will also offer turnkey solutions throughout the U.K., which will help cover social housing installations, commercial rooftop arrays and the creation of ground-mounted solar parks in various corners of the country. Both ZNShine Solar and MAP Environmental will commit 50% each of the $680 million development fund over the next two years.

"We are proud to be cooperating with a valuable partner in supporting the U.K.'s commitment to reducing its carbon footprint," said ZNShine Solar's general manager, William Wang. The deal is the largest of its kind in the U.K. to date, and will go some way towards helping the country meet its 2050 carbon emission reduction targets.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Inlyte reports zero loss over 700 cycles for its iron-sodium battery tech

11 December 2024 The startup is targeting commercial demonstration projects in 2025 and large-scale U.S. manufacturing by early 2027.

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.