Youmex to finance Shunfeng, Greenfield PV plan in UK

Sep 17, 2014 - China-based Shunfeng Photovoltaic International Ltd (HKG:1165) and its partner Greenfield Solar International GmbH & Co KG have teamed up with German clean energy investment group Youmex to provide financing and sell their projects in the UK.

In May, Shunfeng and Greenfield joined hands to develop up to 900 MW of solar schemes in the UK by end-2015.

Under the new partnership, Youmex will arrange construction loans and long-term project financing and will also sell Greenfield and Shunfeng’s solar projects, Wuxi Suntech Power Co, which was acquired by Shunfeng in April, said on Tuesday.

Via the alliance, “Suntech and Shunfeng will be able to look at other acquisitions in the market as part of our strategy to become the largest integrated clean energy supplier globally,” said Suntech’s CEO Eric Luo.

Wuxi Suntech Power Co will be the exclusive supplier of PV panels for the UK projects and Shunfeng will also be supplying PV inverters. Germany-based Greenfield, on the other hand, will be responsible for the engineering, procurement and construction (EPC) activities. The partners aim to complete up to 400 MW of combined solar capacity this year and add 500 MW more in 2015.

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