SPI Solar, the Roseville-based solar-energy developer, says it has entered into a joint-venture agreement with a German company to develop solar projects in the United Kingdom.
SPI and the German renewable energy firm, WIRCON GmbH, initially will develop solar energy projects totaling 55 megawatts. Under terms of the deal, the various projects will be developed with the joint-venture company owning and operating some assets, while others are sold to investors.
“WIRCON has amassed a wealth of solar project development experience in Europe over the years, and this agreement provides a foundation for SPI to grow our business in the critically important UK market. The UK will be one of our key geographic focus markets in the coming years...,” SPI Chairman Xiaofeng Peng said in a statement accompanying the joint-venture announcement.
SPI said the UK’s Department of Energy & Climate Change has set a target of 30 percent of electricity coming from renewable sources by 2020. The announcement also cited a study saying that the UK will eclipse Germany as the largest installer of solar panels in Europe in 2014.