Greentech Energy Systems A/S (Copenhagen, Denmark) is forming a joint venture (JV) with Foresight Group Inc. (Lansing, Michigan, US) to invest in solar photovoltaic (PV) projects in the United States, with a first round of up to 100 MW.

The two companies have signed a term sheet outlining the details of the JV, which will be controlled 51% by Greentech and 49% by Foresight. Through the JV the two companies will jointly explore and assess the feasibility of individual PV projects both currently in operation and under development.

“This is a great opportunity for Greentech future as an Independent Power Producer to enter the USA solar PV market through a JV with a so important financial investor as Foresight,” stated Greentech Chairman Peter Høstgaard-Jensen.

“By entering the USA, which is one of the worlds most important and attractive renewable energy markets, Greentech will diversify out of Europe which is in line with the strategy of the Company becoming a global Independent Power Producer. The two companies together will create a solid and relevant US solar investment platform.”

Foresight notes that it currently manages PV plants in four continents, including plants in the United States. Greentech has developed a number of utility-scale PV plants in Italy and Spain.

2013-03-11 | Courtesy: Greentech Energy Systems | solarserver.com © Heindl Server GmbH

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