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US and China firms join up to advance BRIC country solar energy

GE signs MOU with Sinoma and Yingda to drive forward China solar energy technology and PV industry development

GE has joined up with Sinoma and Yingda to advance solar energy technology in China

A leading US power conversion firm has joined up with two China companies to drive forward solar energy in the BRIC country. The power conversion business of US firm GE has signed an MOU (memorandum of understanding) with companies Sinoma International Engineering and Yingda International to boost solar energy technology and PV industry development in China.

GE Power Conversion said all three companies will share resources and cooperate closely to develop the solar energy business in China and abroad. The win-win cooperation includes expertise in and the development of PV technology, financing and government relations management, the US power firm said.

The news from GE Power Conversion follows other Western renewable energy companies signing agreements in June 2013 to boost China solar energy development. This includes Germany PV firm IBC SOLAR AG, which Renewable Energy Technology reported on 24 June, had signed a five year solar energy agreement with East China city Hefei to help it become the first "photovoltaic application city" in the BRIC country.

GE said its key objectives with Sinoma and Yingda will be to ensure PV product quality as well as alleviating pressure on cash flow and financial constraints which EPCC's (engineering, procurement and construction contractors) may face during the execution of large solar energy projects.

Bo Liu, president of GE Power Conversion China, said: "China is already one of the largest solar energy users as well as a leading producer of PV hardware globally. The opportunity for growth in clean and efficient solar energy is immense as China aggressively pursues a reduction in carbon emissions. This partnership brings together the best of the capabilities needed to deliver powerful, reliable and cost-effective solutions, which we expect will become the trademark for other regions to benefit from."

China solar energy targets

The China government has announced aggressive targets to reduce carbon emissions and energy use per unit of gross domestic product by at least 3.7 per cent in 2013. It follows similar reductions in previous years and, in line with this initiative, the China solar energy industry has maintained a continued and rapid growth, GE said.

According to the National Development and Reform Commission, a goal has been set to increase the country's installed PV capacity to 10GW in 2013. This goal is three times higher than that of 2012 and represents 140 per cent of the newly installed solar energy capacity achieved over the past five years.