Lightway Solar America to supply modules to, invest in Suntuity

Nov 12, 2012 - Lightway Solar America Inc, the US arm of Chinese solar module maker Lightway Green New Energy Co Ltd, today said it would supply 22 MW of modules to and invest USD 4.37 million (EUR 3.4m) of equity in Suntuity.

Suntuity, a US firm specialising in the design and construction of solar and wind installations, will use the modules for 31 of its solar projects in the US states of New Jersey, Pennsylvania and California. The projects are of various sizes and include a 12-MW grid-supply development.

The deal will also see LWSA Project Development LLC, Lightway's project development unit, make a USD-4.37-million investment in Suntuity. Lightway said the partnership would pave the way for the company to offer design, engineering and construction services at attractive terms to its module clients.

"Equity investment in properly structured solar projects is the right path for module suppliers such as Lightway to gain market share in today's challenging and highly competitive environment," said Steven Gifis, Lightway director of US market strategy.

(USD 1.0 = EUR 0.786)

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