Q-Cells SE and LDK Solar Co., Ltd., Wednesday announced the formation of a joint venture focusing on large photovoltaic systems and market development in Europe and China.
Given their complementary core business models and regional market expertise, the two companies intend to take advantage of value chain optimization and integrated cost reduction.
A joint project pipeline is already in place and the first 40MW project has commenced. The projects of the joint venture will utilize 100% solar wafers from LDK Solar and 100% solar cells from Q-Cells.
The joint venture is already in discussions with potential buyers of the first turn-key project, which will be in Europe, and is in the planning stages for future joint projects in the emerging Chinese market.
The partnership between the two companies in the area of PV systems is not intended to be exclusive, but rather to focus on developing specific projects of mutual benefit, with the shared goal of accelerating the move to grid parity.