UK firm teams up with Z N Shine of China in GBP-400m solar JV

Jun 18, 2014 - UK firm MAP Environmental Ltd and Z N Shine Solar of China have struck a joint venture agreement to acquire, build and manage GBP 400 million (USD 679m/EUR 501m) worth of solar parks in the UK, the British government said Tuesday.

As part of the initiative, the British photovoltaic (PV) equipment manufacturer and its new partner will embark on a three-year construction programme and will partner with UK-based engineering, procurement and construction groups.

The project is expected to open up to 50 new design, administration and operation job positions and an additional 500 jobs in the construction and maintenance sectors in the UK, according to the government press release.

The UK-China solar cooperation deal is part of GBP 14 billion of trade and investment deals between UK and Chinese companies signed on Tuesday during China's Premier Li Keqiang to the UK. The largest one is a GBP-12-billion contract under which UK’s BP Plc (LON:BP) will supply liquefied natural gas to China National Offshore Oil Co (CNOOC) for 20 years.

(GBP 1.0 = USD 1.697/EUR 1.253)

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