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Mar 19th, 2012
 
Solar Frontier and Belectric form joint venture for solar power plants
 
Germany-based Belectric and Japan-based Solar Frontier, the world’s largest solar EPC and the world’s largest manufacturer of CIS thin-film solar modules, have announced they have formed a new joint venture company, PV CIStems GmbH & Co. KG.
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  • PV CIStems GmbH & Co. KG will develop, build and sell both ground- and roof-mounted photovoltaic power plants.
  • Solar Frontier, the leading CIS manufacturer, profits from its strong technology experience and manufacturing capacity at gigawatt  scale.
  • The Belectric’s profound EPC and project development experience will participate to increase the number of installations of Solar Frontier’s modules.

The company will develop, build and sell both ground- and roof-mounted photovoltaic power plants. By combining Belectric’s profound EPC and project development experience with Solar Frontier’s deep panel know-how, PV CIStems offers customers worldwide turnkey solutions using high quality components for cost-efficient solar power generation. PV CIStems is the result of a global framework agreement to establish a deeper working relationship between Belectric and Solar Frontier as the two companies strive to continue providing clean, affordable and grid-stabilizing solar energy through lower systems and maintenance costs. Belectric and Solar Frontier are building on and accelerating the model of development and deployment created by the two companies in previous successful projects.
 
PV CIStems GmbH, the first operating company under the global framework agreement between Belectric and Solar Frontier, will be headquartered in Gruenwald near Munich, Germany, and will operate in Germany. Future PV CIStems operating companies in other countries are expected to be established in response to local market needs and in accordance with local regulations. The management board of the new company will have equal representation of both parent companies and consists of Bernhard Beck, Martin Zembsch, Atsuhiko Hirano and Wolfgang Lange.
 
The Joint Venture is subject to cartel approval.


 
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