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Solaria signs strategic agreement to expand activity in Asia

Published on Sept. 29, 2011

 
Solaria signs strategic agreement to expand activity in Asia

Solaria Energía y Medio Ambiente, S.A., the only solar company listed in the Spanish Stock Exchange, has signed up an agreement with the chinese company Dongfang Electric Corporation (DEC). Through this agreement both companies establish the baselines for commercial cooperation and development in Asia. Also, Solaria obtained a purchasing Cerdit Line of USD 30 million from DEC to purchase solar cells and other turnkey projects components. In addition, both companies, DEC and Solaria, will co-invest worldwide with a target pipeline of 100 MW per year.

This agreement shows the commitment of the company for the internationalization of its services and products. The entry into the chinese market, one of the current strategic core growth markets,  is a very important achievement for the company, that is already establishing the baselines for new business opportunities in Asia.

Dongfang Electric Corporation (DEC), with its headquarter in Chengdu, the capital city of Sichuan Province, is one of the largest backbone enterprise groups under the direct administration of Chinese Central Government. DEC possesses comprehensive technical R&D abilities and is honored by the Central Government as a National Research & Development Center.  DEC has an annual production of power generating equipment for more than 30,000MW consisting of hydro, thermal, nuclear, wind, combine-cycle generating unit. Regards to its market share, DEC presently enjoys one-third domestic market share in thermal power and two-fifths in hydro power.

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