Canadian Solar Inc., one of the world’s largest solar power companies, today announced it plans to partner with Photowatt, a subsidiary of EDF Energies Nouvelles and ECM Greentech, a group that is in the forefront of silicon crystallization equipment and process in France.
The three companies intend to set up a joint venture (“JV”) specialized in low-carbon production of advanced technology silicon ingots and wafers in France. EDF Energies Nouvelles through its subsidiary Photowatt, Canadian Solar and ECM Greentech would own 60%, 30% and 10% of the equity in the JV respectively.
The JV partners are pioneers in high performance of casting mono technology, which gives the JV the potential to deliver the mono-crystalline silicon solar performance at the multi-crystalline cost. Meanwhile, the technology developed by the JV partners would contribute to one of the lowest carbon footprints in manufacturing solar products. France is a leader in low-carbon ingot and wafer production.
The establishment of the JV is being reviewed and subject to the clearance by the relevant competition authorities.