Soventix has entered into a joint venture with Chinese solar cell producer JA Solar for the development of large-scale solar photovoltaic power projects in Chile.
Soventix Chile is already developing solar projects in the country which includes projects of more than 250 MW in pipeline.
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The company is presently focusing outside of Europe and in countries that have reflected strong market potential due to high solar radiation and increasing energy costs.
Latin America has shown high and growing energy demand for renewable energy and like Soventix, JA Solar is also planning to strengthen its position in Latin America.
Both the companies are expected to benefit from the joint venture, as JA Solar sees rapid penetration of this new market, and for Soventix the joint venture is likely to act as a catalyst to attract international investors for its projects.
The companies will work on projects that will have combined power generation capacity of 130 MW, with all of the projects using JA solar modules.
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By GlobalDataSoventix Chile CEO Thomas Stetter said: "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."
JA Solar president Jian Xie added: "A central element of our market entry strategy is to participate at the earliest stages of project development. This enables us to secure supply agreements early on, as well as to be influential in the project implementation and not act simply as a vendor."
