The Leading Thin Film Manufacturer First Solar (link) and Fundación Chile has announced that First Solar has acquired Solar Chile (link), which is a major Solar Developer based in Santiago, Chile, in which Fundación Chile was an early investor. The Amount is still not yet disclosed.
"We have been very impressed by the quality of the Solar Chile team and
the projects they are developing, and we believe that together we will
bring even more value to the Chilean market," said Jim Hughes, First
Solar CEO. "Combining Solar Chile's market knowledge and promising
project portfolio with First Solar's resources, technology and strong
execution track record offers Chile a rapid and proven path to add
significant solar generation capacity, helping to meet high energy
demand and support economic growth."
"First Solar's acquisition of Solar Chile is a milestone of enormous
significance to our country," said Alvaro Fischer, President of
Fundación Chile. "It highlights the tremendous potential that solar PV
energy has to change the demography and the economy of northern Chile,
opening it up to new opportunities beyond mining and fishing, into water
desalinization, hydrogen production or large green data centers."
Gives First Solar Access to locations where there is Highest Irradiance levels
This
culminates a strategic working alliance the two companies formed in Oct.
2011. Solar Chile has a portfolio of early- to mid-stage utility-scale
photovoltaic (PV) power projects totaling about 1.5 gigawatts (GW) in
Regions I, II, III, and XV in northern Chile, including the Atacama
Desert region, which offers the highest solar irradiance in the world. Under the terms of the agreement, the five-person Solar Chile team is
joining First Solar, and Fundación Chile will provide ongoing
consultation services.
"Chile faces a growing energy demand from its sustained economic
growth," said Hernán Cheyre, Executive Vice-President of CORFO, the
Chilean government's economic development agency. "Solar energy provides
a sustainable and clean energy source that takes advantage of our
outstanding clear skies and irradiance. The growth of the solar industry
and the arrival of First Solar validates Chile´s position as a regional
hub for entrepreneurship and innovation."
Article Published by Gokul R Prabhu
For more Queries contact: gprabhu@renewindians.com
