SPI and Wircon plan to set up a joint venture company to develop solar energy projects in the UK, with an initial proposed target of 55 MW. Selected projects will be procured and developed with the intent for the joint venture company to own and operate certain assets and sell others to investors.
SPI’s stated strategy is to grow its presence in key markets through strategic alliances with strong local partners.
SPI chairman Xiaofeng Peng said: “Wircon has amassed a wealth of solar project development experience in Europe over the years, and this agreement provides a foundation for SPI to grow our business in the critically important UK market. The UK will be one of our key geographic focus markets in the coming years, and this announcement marks a new milestone for SPI internationally.”
SPI Solar describes itself as a global turnkey developer and EPC contractor for large-scale solar energy facilities. Based in the USA, it is majority owned by China’s LDK Solar, which manufactures multicrystalline solar wafers that are used in solar cells.
Mark Hogan, president of Wirsol Energy Ltd, a subsidiary of Wircon, added: “We plan to capitalise on selected opportunities with attractive return potential in the UK market, particularly given the DECC’s proposal to close the RO (Renewables Obligation) scheme to new solar PV capacity above 5 MW from 1st April 2015. We will also invest in sourcing and building a substantial and sustainable pipeline looking into 2015 and beyond.”