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IQE

15 May 2015

Solar Frontier completes acquisition of Gestamp Solar's 280MW US pipeline and begins construction

In late April, Tokyo-based Solar Frontier - the largest manufacturer of CIS (copper indium selenium) thin-film photovoltaic (PV) solar modules - has completed the acquisition of the 280MW US pipeline of Gestamp Solar of Madrid, Spain (the photovoltaic energy division of Gestamp Renewables), a global developer and operator of utility-scale solar power plants. 

The 280MW pipeline consists of ten projects in various stages of development located primarily in California. Construction has been initiated on a 15MW project in Kern County, CA. The second project is a 20MW site, with construction beginning in second-quarter 2015. Talks are underway with a select group of long-term investors regarding the sale of designated solar projects. 

Charles Pimentel has been named CEO of Solar Frontier Americas' new division, Solar Frontier Americas Development LLC, and Cary Vandenberg has been appointed managing director of the development organization. Pimentel continues in his role as chief operating officer of Solar Frontier Americas.

Solar Frontier says that a key attribute of the acquisition is the addition of an experienced development team. The expansion of the US organization provides the platform to scale the US business and underscores Solar Frontier's commitment to the US market, the firm adds. The move comes as part of its global expansion plans, which include strengthening its position as a comprehensive solar energy solutions provider in international markets.

"Solar Frontier is making substantial investment within the Americas and, with this acquisition, we expect to build and deliver some of the highest-performing solar energy projects in the industry," says Pimentel. "Solar project investors and developers are keenly focused on long-term energy yield and they are starting to recognize and understand the value of partnering with Solar Frontier to maximize the value of their PV plants," he adds. 

"Our investment in this highly skilled team will be a catalyst to broaden our services in the Americas," believes Solar Frontier's CEO Atsuhiko Hirano.

See related items:

Solar Frontier acquiring 280MW US project pipeline from Gestamp Solar

Tags: Solar Frontier CIS thin-film PV modules

Visit: www.gestampsolar.com

Visit: www.solar-frontier.com

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