(ADPnews) - Nov 22, 2010 - US solar project developer SolarReserve said last Thursday it set up a joint venture (JV) with a US unit of Chinese GCL-Poly Energy Holdings (HKG:3800) to develop, build and operate photovoltaic (PV) power projects in the US.
Through the JV, solar PV plant installer GCL Solar Energy will acquire 50% ownership in SolarReserve's 1,100 MW PV development pipeline in the US, SolarReserve said.
Under the JV terms, SolarReserve will be engaged with the project development and GCL will manage the PV vendor selection, construction and long-term financing for the PV projects.
The JV's portfolio consists mainly of 5 MW to 20 MW projects proposed on 40 sites in the US. It expects to begin construction works on up to 400 MW of PV projects in the near term, SolarReserve added.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.