Greenwood | News Release — International renewable energy company Greenwood Energy today announced it has agreed to purchase solar panels from China-based JA Solar to supply a portion of Greenwood’s projects in the fast-growing Latin American region.
JA Solar will supply an initial 50 megawatts (MW) of solar panels for Greenwood projects in Panama.
The agreement also contemplates a potential additional commitment of at least 50MW for other Latin American projects at an agreed price for deployment within 18 months. The polycrystalline photovoltaic panels will be manufactured in China, and have an estimated output of 260 to 320 watts per panel.
“This agreement is an exciting step forward on our expanding Latin American solar portfolio,” said Camilo Patrignani, CEO of Greenwood Energy. “JA Solar is an attractive partner due to its proven record of delivering efficient panels, and although we are just beginning this first project together, we are already seeking additional opportunities to work together to cut power costs and emissions across the region.”
Latin America is one of the world’s fastest-growing solar markets. A pipeline of over 22 gigawatts (GW) new capacity is being planned for the region, with an estimated 2.3 GW expected to be connected in 2015 alone. Greenwood currently has a 3GW project pipeline across Latin American, including projects in Chile, Panama, Mexico, and the Caribbean.
“We are excited to partner with Greenwood as we further develop our presence in Latin America,” said Mr. Jian Xie, President of JA Solar. “Greenwood Energy is a leader in renewable power development in Latin America, with additional attractive growth initiatives around the globe. We look forward to working closely with Greenwood in all major solar markets.”