Canadian Solar and Guodian Power announce joint solar photovoltaic venture

10 August 2009

Solar energy technology company Canadian Solar Inc. and the Guodian Power Development Company will cooperate design, invest, build, operate and maintain a number of solar photovoltaic power plant projects in China.

The agreement will see the two parties work together firstly in Gansu, Ningxia and Inner Mongolia before looking towards developing new markets in other provinces in the future. The joint venture will initially focus on PV power plant projects.

The first project will target two grid-connected PV power plants in Ningxia with an installation target of 50MW over three phases, according to a statement.

Dr Shawn Qu, chairman and CEO of Canadian Solar, said, ‘Our target is to become the leading supplier for Guodian Power Development’s anticipated 400MW to 500MW of pgotovoltaic projects in China and support its overseas expansions.

‘Recent policies supporting the PV industry announced by Chinese Government have paved the way for us to grow in the Chinese PV market as we further diversify our revenue base. Canadian Solar’s anticipated ramp up in module production capacity of 820MW this quarter will prepare us for near term production growth. This broad partnership with Guodian Power Development underscores the success Canadian Solar has achieved worldwide and sets the stage for the next phase of our growth in China,’ he added.

Guodian, which has power plants in 29 Chinese provinces, employing over 110,000 people has already installed 7,490MW, including 6,687MW thermal, 471MW hydro, and 325.6MW of wind power throughout China.

Jun Miu, vice president of Guodian Power Development Co., added, ‘Guodian Power Development Co.’s target is to achieve 510MW of installed PV capacity in China by 2012. We also have a strong interest in overseas expansion.

‘Today’s announcement with Canadian Solar is critical to our successful achievement of that goal. We are pleased to have a proven, financially strong and trusted partner like Canadian Solar, as Guodian Power Development moves forward in its important solar expansion effort. We are confident that working together, we can build a complete PV industry supply chain and a strong partnership.’

Canadian Solar Inc. provides ingot, wafer, solar cell, solar module and other solar applications. The company designs, manufactures and delivers solar products and solar systems for on-grid and off-grid use to customers worldwide.

Copyright © 2009 NewNet

Tags: photovoltaic, solar

This story was published on Monday, August 10th, 2009 at 5:00 pm and is filed under Asia, North America, companies, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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