First Solar Strikes a Global Deal

First Solar announced yesterday that it has entered into a strategic cooperation framework agreement with China Power International New Energy, a wholly owned subsidiary of China Power New Energy Development Company Limited.

Both companies will collaborate on solar energy projects in China, the United States and other international markets.

The two companies will initially explore collaboration on PV projects in China and identify project investment opportunities in the U.S. The financial terms of the deal were not disclosed.

This agreement provides First Solar with an opportunity to expand its existing presence in China. The company is already under contract to develop a 2 GW solar power facility in Ordos City in the province of Inner Mongolia.