Asia Clean Capital, a Hong Kong-based renewable energy developer backed by Goldman Sachs, has teamed up with Trina Solar to co-develop a solar pipeline of more than 300MW in mainland China.
ACC will build and provide financing for the solar plants while Trina Solar, the world’s biggest solar panel maker, will provide services including technical support and engineering design, the companies said in a statement. They expect to develop the targeted pipeline within the coming three years.
This marks the third such partnership by ACC, which had previously formed tie-ups with Canadian Solar and Butler China to co-develop rooftop project pipelines totalling more than 200MW and 300MW respectively in China.
Some of the projects covered by the deal include solar farms attached to Fortune 500 foreign-funded companies’ production facilities, according to the statement.
Founded in 2009, ACC secured a $40 million project finance facility from Goldman Sachs this January. The company typically provides the entire equity of the projects it develops, with sites often located at large corporates' production facilities with electric demand of up to 20MW.