- Suntech will supply the alliance's UK solar projects with its world-class panels
WUXI, China, Sept. 16, 2014 /PRNewswire/ -- Shunfeng Photovoltaic International Limited and Greenfield Solar International GmbH & Co. KG have entered into a strategic alliance with German-based clean energy financing and investment group youmex to finance and sell their solar farm projects pipeline in Great Britain using Suntech as its exclusive PV panel supplier for projects.
"We are excited to complement our partnership with Greenfield with youmex's financial services to our customers. We believe that this alliance will serve as another catalyst for growth in the UK's solar market," said Eric Luo, CEO of Suntech. Luo, who is also responsible for Shunfeng Photovoltaics International Holding's acquisition strategy, added that "through our partnership, 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."
In the alliance, Greenfield will provide EPC services, while youmex will arrange construction loans and long-term project financing as well as selling the PV Solar Power Plants to investors.
"With its fully integrated transaction management of these three tasks, youmex speeds up and assures the whole process of financing and sales for one of the largest PV pipelines in UK," explains Kai Hartmann, Head of Corporate & Structured Finance at youmex group. "We are very thrilled to be part of the alliance that unites the core competencies, experiences and strengths of these three complementary partners."
"Together with the expertise of Suntech and youmex, our alliance is well-positioned to solidify a strong presence within the UK's Solar PV market," echoed Helmut Kube, Managing Director of Greenfield.
Among its many products for utility-scale projects, Suntech produces 60 Cell polycrystalline modules which are excellent for weak light performance markets such as the UK and are manufactured with advanced cell technology material making them highly resistant to Potential Induced Degradation (PID), thus allowing for high performance under extreme conditions for many years.
"We have great confidence in the quality and sustainability of our products for these projects," said Luo. "Our polycrystalline silicon modules recently ranked above industry standards in a technical review conducted by UK-based consultancy OST Energy and received the VDE-Quality Tested certification, which recognizes high quality products that go beyond existing standards in the photovoltaic industry."
About Wuxi Suntech Power Co., Ltd.
Wuxi Suntech Power Co., Ltd., a company incorporated in the PRC in January 2001, produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech has delivered more than 30 million photovoltaic panels or 8 GWs of installed capacity to more than 1 thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide reliable access to nature's cleanest and most abundant energy source.
Greenfield Solar International GmbH & Co. KG is a German EPC company which configures, builds, operates, and maintains photovoltaic roof and ground-mounted installations across Europe and has gained a good reputation for planning, engineering, logistics with procurement and for the turnkey construction of solar farms. Greenfield has built solar farms with a track record of over 650 MW in the last years and brought them to the grid in major European countries such as Germany, Czech Republic, Italy, and United Kingdom.
About youmex group
youmex group, based in Frankfurt, combines special financing solutions with a track record of about 3.5 billion Euros. As a financing platform, youmex acts as a one stop shop by simplifying, accelerating and optimizing financing and capital market transactions for almost 15 years. The Project Finance area focuses on the Real Estate and Clean Energy assets. In particular, youmex arranges bridge, construction, short-term and long-term financing of wind and solar parks for project developers and investors throughout Continental Europe, United Kingdom (UK), South and Middle America. youmex also sells wind and solar power plants as an investment product. youmex is a German Stock Exchange (Deutsche Boerse) Listing Partner and is regulated by the German Federal Financial Supervisory Authority (BaFin) as a financial services institute.
SOURCE Wuxi Suntech Power Co., Ltd.