After months of speculation, Germany solar cell company Q-Cells (QCE.DE) and Chines wafer manufacturer LDK Solar have offically formed a joint venture focusing on PV systems and market development in Europe and China.
The companies are two of the largest players in their respective segments of the solar production. They intend to work together to build large scale solar power plants.
A joint project pipeline is already in place and the first 40-megawatts (MW) project has commenced, the companies said in a release.
The projects of the joint venture will utilize solar wafers from LDK Solar and solar cells from Q-Cells, and will not require additional working capital financing or other funding from the two companies. The joint venture is already in discussions with potential buyers of the first turn-key project, which will be in Europe, and is in the planning stages for future joint projects in the emerging Chinese market.
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The partnership between the two companies in the area of PV systems is not intended to be exclusive, but rather to focus on developing specific projects of mutual benefit, with the shared goal of accelerating the move to grid parity.
"We are very pleased to announce this joint venture and further expand our relationship with LDK Solar," commented Anton Milner, CEO of Q-Cells SE. "This joint venture will strengthen our position in the crucial business area of large-scale PV power plants."
Last month reports suggested the two solar companies were awaiting approval from German anti-trust regulators.
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