The Chinese solar manufacturer and U.S.-based project installer intend to add 300 MW of solar across America via a new joint venture, Baynergy, announced yesterday.
While details were light on the ground, 150 MW is expected to be deployed by the end of 2016, and part of the pipeline will comprise distributed solar. ReneSola will hold a majority equity interest, however, Pristine Sun may own up to 49% dependent on meeting certain, unspecified, conditions.
"The U.S. market is full of tremendous opportunities in the downstream project sector with 25 gigawatts projected to be constructed in the commercial and utility space in the next five years," commented ReneSola CEO, Xianshou Li, adding, "We believe we can capitalize on these opportunities and grow the joint venture."
pv magazine has contacted both parties for further details.