First Solar Gets More Entrenched in China

US-based First Solar, Inc. and China Power International New Energy Holding Ltd. (CPINE), a wholly-owned subsidiary of China Power New Energy Development Co. Ltd., signed a strategic cooperation framework agreement to work on solar PV projects in China, the US, and other international markets.

The deal has the companies’ initial focus based in China, including CPINE’s planned 2 GW installation by 2020. Then the partnership will work on First Solar’s 2.4 GW pipeline in North America.

"We are very pleased to build an extensive and in-depth relationship with First Solar, a global leader in solar PV technology. This cooperation leverages our advantages in the domestic solar power industry, and helps First Solar further expand its business presence in China. In addition, we are happy to explore other cooperation opportunities in different areas and through different methods with First Solar, working together to further expand in the global market," said Madame Li. "Solar power offers tremendous growth potential in China and the US."

"First Solar is very pleased to be expanding our commercial presence in China by establishing this relationship with CPINE, one of the premier clean energy state-owned companies in China and a leader in clean energy development," said Kallenbach. "Both China and the US are important markets with vast potential for sustainable solar energy, and this agreement can serve as a model for US-China collaboration on renewable energy. Our agreement with CPINE also includes the potential to expand to other international markets, which could open up tremendous opportunities."

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