Shunfeng Photovoltaic and Greenfield Solar have entered into an alliance with German-based clean energy financing and investment group youmex to finance and sell their solar farm projects pipeline in Great Britain using Suntech Power as its exclusive PV panel supplier for projects.
“We believe that this alliance will serve as another catalyst for growth in the UK’s solar market,” says Eric Luo, CEO of Suntech. Luo, who is also responsible for Shunfeng Photovoltaic International’s acquisition strategy, added that “through our partnership, Suntech and Shunfeng will be able to look at other acquisitions in the market as part of our strategy to become the largest integrated clean energy supplier globally.”
In the alliance, Greenfield will provide EPC services, while youmex will arrange construction loans and long-term project financing as well as selling the PV solar power plants to investors.
“With its fully integrated transaction management of these three tasks, youmex speeds up and assures the whole process of financing and sales for one of the largest PV pipelines in UK,” says Kai Hartmann, head of Corporate & Structured Finance at youmex group. “We are very thrilled to be part of the alliance that unites the core competencies, experiences and strengths of these three complementary partners.”
“Together with the expertise of Suntech and youmex, our alliance is well-positioned to solidify a strong presence within the UK’s solar PV market,” says Helmut Kube, managing director of Greenfield.
Among its many products for utility-scale projects, Suntech produces 60 Cell polycrystalline modules, which are excellent for weak light performance markets such as the UK and are manufactured with advanced cell technology material making them highly resistant to Potential Induced Degradation (PID), thus allowing for high performance under extreme conditions for many years, says the company.
“We have great confidence in the quality and sustainability of our products for these projects,” says Luo. “Our polycrystalline silicon modules recently ranked above industry standards in a technical review conducted by UK-based consultancy OST Energy and received the VDE-Quality Tested certification, which recognizes high quality products that go beyond existing standards in the photovoltaic industry.”
Here’s a look at what else is happening in the UK: