Nanjing-based ET Solar Group has signed a master agreement for the turn-key construction of solar power plants for Wattner Group of Cologne, an initiator of closed-end energy and infrastructure funds.
Under the agreement, ET Solutions AG, the solar power solution arm of ET Solar, will deliver solar installations to Wattner worth EUR200 million. The solar power plants will be commissioned primarily in Southern Europe within the next five years.
Wattner procures turnkey solar power plants with an annual revenue of at least EUR20 million adding up to a total power of 50 MWp throughout the life span of the contract. This power is sufficient to light 15,000 households. Xinghua Wang, chairman and CEO of ET Solar stated that Wattner opted for ET Solar because ET possess a unique combination of profound manufacturing experience and in-depth engineering, procurement, and, construction knowledge. He added that cooperation with investment partners such as Wattner is key for ET's development and expansion plans in international markets.
The agreement covers the complete lifespan of the solar construction fund Wattner SunAsset 1. This publicly subscribed fund has now also made its first investment with the Solarpark Penig, an installation with approximately 12,000 solar panels. Ulrich Uhlenhut, managing director of Wattner AG said that both the site, near the municipality of Penig in Saxony, Germany, and the size of the project were ideal considering the ongoing placement of Wattner SunAsset.
ET Solar is an integrated solar component manufacturer and a solar power solution provider. Headquartered in Nanjing, China, ET Solar has two manufacturing facilities in Taizhou, China. The company's diversified products range from mono- and multicrystalline ingots, silicon wafers, modules, dual-axis tracker systems to BIVP products. ET Solar maintains an extensive global distribution and service network has been implementing sales through a combination of extensive direct sales and global distribution. ET offers marketing and after-sales services throughout Germany, Italy, Spain, the United States, and Korea.