JA Solar has formed a joint venture with Soventix GMBH to develop large scale solar photovoltaic power projects in Chile.
Soventix said it is increasingly concentrating its efforts on implementing solar projects outside of Europe, especially in countries which show strong market potential due to high solar radiation and increasing energy costs. “Latin America is of special interest due to its high and growing energy demand,” the company said.
Soventix’s local subsidiary Soventix Chile SpA is developing a portfolio of projects, currently in various stages of development and implementation, which includes a pipeline of more than 250 MW. JA Solar said it is also strengthening its position in Latin America.
Soventix and JA Solar see clear advantages to working together, which motivated the formation of this joint venture. For JA Solar collaboration with an established project developing company can lead to a more rapid penetration of this new market. For Soventix a partnership with one of the industry’s leading module manufacturers can help in attracting capital from international investors for its projects.
The joint venture will initially cooperate on projects totaling 130 megawatts of capacity, all of which will use JA Solar modules.
Both companies expect completion of the first collaborative projects in 2015.