The leading Japanese CIS technology developers completed the acqusition of Gestamp Solars 280MW U.S. pipeline in April this year. These include ten projects in California under various stages of development.
"Our task was to figure out how we can re-enter the American market and build up a future business model," stated Yuichi Kuroda, vice president of international business for Solar Frontier to Bloomberg.
Solar Frontier plans to sell all 280MW of projects by the end of 2016. Kuroda also added that the companys limited presence in the U.S. meant that it could not take advantage of the tax credit. Hence developing projects and then selling them to buyers who can enjoy the tax breaks makes more sense.
In addition to buying over the projects, Solar Frontier also took 10 Gestamp workers under its wing. The company believes that having Spanish-speaking employees can aid in Solar Froniters expansion plans into the U.S., central and Latin America.
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