Doyoung, Huawei sign 500 MW inverter agreement

Huawei will supply Doyoung, both from China, with 500 MW of its inverters for solar PV projects in China. The terms of the agreement were not disclosed.

In a statement released, Doyoung said it will bring 105 MW of distributed solar projects across China online within the next six months.

The company recently adopted a new business model, oriented towards new energy power generation, new power grid service, e-commerce service, in order to "address pain points such as financing difficulty for distributed new energy development." The inverter purchase is said to be the first such agreement signed under the new model.

In addition to the supply agreement, the two companies have said they will work together in joint development and customized manufacturing. Again, no further details were provided.