Solar Chile, a subsidiary of Fundación Chile, and First Solar (Nasdaq: FSLR), a provider of photovoltaic (PV) system solutions, announced a strategic alliance to co-develop solar projects in Chile. First Solar will provide its industry-leading PV modules and engineering and procurement services to future development projects, subject to execution of definitive project agreements.
"Solar Chile is pleased to work with First Solar, leveraging their cost-effective PV modules and extensive experience in the development of industrial-scale projects," said Cristián Sjögren, CEO of Solar Chile. "Together we will transform Chile into the first country in Latin America to generate solar energy at competitive prices."
The signing of the strategic alliance will be held on Oct. 12, 2011, at 8:30 a.m. at the auditorium of Fundación Chile, located at Avenida Parque Antonio Rabat Sur 6165 in Vitacura. Kathleen Weiss, Vice President of Federal Government and Corporate Affairs for First Solar and Kim Oster, Director of Business Development, Latin America for First Solar, will present on solar's rapidly declining costs and provide a global perspective on the development of a sustainable solar industry in Chile.
"With strong growth projections, significant energy demand and abundant solar resource, Chile represents a tremendous opportunity to generate clean, renewable solar electricity cost effectively," said Kim Oster, Director of Business Development, Latin America for First Solar. "We are delighted to collaborate with Solar Chile and Fundación Chile to accelerate the adoption of PV technology and meet the growing demand for clean, renewable solar energy."
Northern Chile has a solar resource that is among the most abundant in the world, and Fundación Chile has been exploring its potential by implementing measurement services and pilot projects and by working in conjunction with the regional government on initiatives such as the Atacama Solar Platform, which has the goal to convert the plentiful solar resource in the Atacama Desert into a source of competitive and sustainable energy.
Fundación Chile works to support this and several other initiatives, including Solar Chile, related to developing the solar cluster, an industry ecosystem that will bring together technology and service companies, promote research and development, and support human capital development related to the broader solar energy sector.