Chile is one of the fastest growing solar PV markets in the world. Soventix Chile SpA, a subsidiary of Soventix GmbH headquartered in Europe, and JA Solar, a Chinese PV manufacturer, has launched a joint venture in Santiago de Chile to develop large-scale solar PV power plants in the country.
Latin America is of special interest due to its high and growing energy demand, and its high solar radiation. Soventix Chile SpA is developing a portfolio of projects, currently in various stages of development and implementation, which includes a pipeline of more than 250 MW. For similar market reasons, JA Solar is also strengthening its position in Latin America.
Soventix and JA Solar see clear advantages to working together, which motivated the formation of this joint venture. For JA Solar collaboration with an established project developing company can lead to a more rapid penetration of this new market. For Soventix a partnership with JA Solar can help in attracting capital from international investors for its projects.
The joint venture will initially cooperate on projects totaling 130 MW, all of which will use JA Solar modules. Both companies expect completion of the first collaborative projects in 2015.
"We are pleased to partner with a premium module manufacturer like JA Solar," said Thomas Stetter, Chief Executive Officer of Soventix Chile SpA. "Having a technically and economically strong module supplier enables us to move rapidly into the detailed engineering stage of our projects, as well as progressing in raising capital."