Continuing the ambitious worldwide expansion of its project business, Shunfeng Photovoltaic International has unveiled a new partnership with two German players, EPC provider Greenfield Solar International and clean energy financing and investment group youmex, to finance and sell their solar farm projects pipeline in the United Kingdom.
Shunfeng’s recently acquired Suntech subsidiary will serve as the exclusive PV panel supplier for the projects.
The latest agreement follows plans announced in May by Shunfeng and Greenfield to build 900 MW of PV plants in the U.K. by 2015. The companies said at the time that they aimed to achieve a combined capacity of up to 400 MW this year and 500 MW in 2015.
"We believe that this alliance will serve as another catalyst for growth in the U.K.’s solar market," said Suntech CEO Eric Luo.
Luo, who is also responsible for Shunfeng’s acquisition strategy, added that "through our partnership, Suntech and Shunfeng will be able to look at other acquisitions in the market as part of our strategy to become the largest integrated clean energy supplier globally."
According to the agreement, Greenfield will provide EPC services, while youmex will arrange construction loans, long-term project financing and also sell the PV plants to investors.
"With its fully integrated transaction management of these three tasks, youmex speeds up and assures the whole process of financing and sales for one of the largest PV pipelines in U.K.," said Kai Hartmann, head of Corporate & Structured Finance at youmex group.
Greenfield managing director Helmut Kube added, "Together with the expertise of Suntech and youmex, our alliance is well-positioned to solidify a strong presence within the U.K.’s solar PV market."
Among the products Suntech offers for utility-scale projects are the 60 Cell polycrystalline modules, which the company says are ideal for weak light performance markets such as the U.K.
"We have great confidence in the quality and sustainability of our products for these projects," said Luo. "Our polycrystalline silicon modules recently ranked above industry standards in a technical review conducted by U.K.-based consultancy OST Energy and received the VDE-Quality Tested certification, which recognizes high quality products that go beyond existing standards in the photovoltaic industry."
In a recent interview with pv magazine discussing Shunfeng’s recent acquisition of German company SAG Solarstrom, solar market analyst and Smart Solar Consulting CEO Götz Fischbeck pointed out that Shunfeng was planning to construct several gigawatts of solar farms in the coming years, making SAG Solarstrom’s know-how and technical solutions in the area of PV system design and installation as well as operation and performance monitoring especially valuable for the group.