China-based PV manufacturer ReneSola has formed partnership with a Turkish solar energy solution provider UCK Group. The two companies will work together to develop a number of PV projects in Turkey totaling 116 MW.
As ReneSola announced today, UCK Group's Berak Enerji will develop and construct the solar power plants, while ReneSola will design the plants and supply its high-efficiency solar modules and inverters. The company says that all the projects in the 116 MW pipeline are unlicensed thus qualifying for the feed-in-tariff of $134/MWh.
Under the terms of the partnership agreement, the newly constructed solar plants will be owned by a new joint venture in which ReneSola and UCK Group will each hold 50%.
This partnership enables both companies to gain traction on the attractive Turkish PV market, while also demonstrating our technology leadership and strong competitive advantages, ReneSola's Chief Executive Officer Xianshou Li said in the announcement.
According to ReneSola, the joint venture is expected to own 70 MW of operating projects by early 2017.
In March, ReneSola reveled its 2015 financial results demonstrating significant growth of its downstream business segment. The companys downstream sales reached 72.8 MW last year. At the same time, ReneSolas latest supply agreements prove that the company can still maintain its position among the leading PV manufacturers.
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: firstname.lastname@example.org.
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.