Solar Frontier Completes buyout of 280MW US solar pipeline
Solar Frontier, a CIS solar energy company, has announced the completion of the acquisition of Gestamp Solar's 280MW US pipeline. Gestamp Solar is a developer and operator of large photovoltaic plants.
The move comes as part of Solar Frontier's global expansion plans.
The 280MW pipeline comprises ten projects in various stages of development and located primarily in California. Construction has been initiated on a 15MW project located in Kern County, CA. The second project is a 20MW site and construction is slated to begin this quarter. Talks are underway with a select group of long-term investors regarding the sale of designated solar projects.
Charles Pimentel has been named the CEO of Solar Frontier Americas' new division, Solar Frontier Americas Development LLC, and Cary Vandenberg has been appointed managing director of the development organisation. Pimentel will continue in his role as COO of Solar Frontier Americas.
Pimentel said: "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 thanks to Solar Frontier's state-of-the-art CIS technology. Solar project investors and developers are keenly focused on long-term energy yield and they are starting to recognise and understand the value of partnering with Solar Frontier to maximise the value of their PV plants."
Atsuhiko Hirano, CEO of Solar Frontier, said: "Solar Frontier has a powerful track record of delivering projects that perform. We are confident that our investment in this highly-skilled team will be a catalyst to broaden our services in the Americas and drive world-class value to our customers."
