Chief financial officer Jay Seo calls the memorandum ofunderstanding, signed with the Wuxi New District Administrative Committee, “anotherimportant step towards developing [our] downstream business in China”.
China-based SolarOne – which is majority owned by Korea’sHanwha – is like many of its rivals rapidly building a projects business asChina dramatically balloons its PV capacity.
The arrangement will see the Wuxi Administrative Committee provideSolarOne with prime rooftop space, facilitate local government approvals andgrid connections, and help pin down preferential tax treatment and projectfinancing, the company says.
