NEW YORK, NY, Dec 02, 2008 (MARKET WIRE via COMTEX) -- TGI Solar Power Group Inc. (PINKSHEETS: TSPG), a turnkey supplier of vertically integrated solar systems for a variety of applications ranging from Solar Parks (solar to grid) to commercial markets, today announced it has formed a joint venture with Hong Kong-based Oriental Energy Group Ltd. (OEG) to target China's renewable energy market, under the name SOLAR POWER CHINA CORPORATION LTD.
"TGI and OEG have signed a memorandum of understanding (MOU) that outlines plans for cooperation and takes advantage of the first to market position. JV is looking to get 8 to 10 cities started simultaneously," said Ying Wang, Managing Director of the newly created joint venture. "We are in process of signing LOI for project financing with the following local governments: Shenzhen, Sanya, Liuzhou, Zhanjiang, Wenzhou, Foshan, Dongguan, Tulufan, Leting and Nanning."
The agreement also includes plans to include two manufacturing facilities of 40 MW of thin film panels utilizing Solar Thin Films, Inc. (SLTN), a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules, TGI's affiliated company.
"We are excited to be working with Oriental Energy. This project will pave the way for solar installations throughout China," said Billy Lieberman, President of TGI Solar.
About TGI SOLAR
TGI Solar (TSPG) is a provider of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry. The Company's products and solutions are used for production of solar grade polysilicon, manufacturing of multi-crystalline silicon wafers, production of solar cells and assembly of complete modules. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to PV product manufacturers on a worldwide basis and a substantial percentage of its sales are to customers outside the United States.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment