Q-Cells and LDK Solar have announced the official formation of a Joint Venture to promote and supply PV systems for large-scale solar power plants in both Europe and China, confirming recent rumours regarding a pending alliance. The new business partners said that a 40MW project located in Europe had already been secured, which will see the use of solar wafers from LDK Solar and solar cells from Q-Cells, though no details were given in respect to modules.
The joint venture is intended to reduce system costs through the supply chain and leverage market presence in the two regions, according to the companies.
“This joint venture will strengthen our position in the crucial business area of large-scale PV power plants,” stated Anton Milner, CEO of Q-Cells SE.
“We look forward to the many new opportunities that will emerge as a result of our partnership with Q-Cells,” commented Xiaofeng Peng, Chairman and CEO of LDK Solar.
Many other projects are said to be in the planning stages, including in China. The companies have also confirmed that the venture did not require additional working capital financing or other funding from the either company.