X-Elio and Sofos Harbert have entered into an agreement to create a Joint Venture for the development of solar energy projects in the US.
It is expected that the new company will be initially focused on the Southeastern market of the United States
The new group has confirmed its intention to expand to other markets in the next years
Birmingham, Alabama / Madrid. X-ELIO, the leading global developer of photovoltaic solar energy with presence in five continents, and Sofos Harbert Renewable Energy, a leader in the design, development and construction of solar energy facilities around the world, announced today that they have entered into an agreement to form a Joint Venture (JV) that will be focused on the development and construction of solar energy projects in the United States.
The JV will be initially focused on the Southeastern market of the US. However, the management has confirmed its intention of expanding into other market regions in the upcoming years.
This agreement follows several moves of X-ELIO to expand its presence in the US, where the company expects to have 170MWdc under operation by the end of 2019. In addition, the company is currently boosting its development activity in the US through several other projects and partnerships. The firm has proven experience developing PV projects internationally and this agreement confirms its ability to create value through relevant partners, such as Sofos Harbert.
Jorge Barredo, CEO of X-Elio, said: “X-Elio has been progressively entering into the US market since its inception. In addition to our ready to build project acquisition activity, our focus and intentions in greenfield development are ramping up with this strategic partnership with Sofos Harbert. We feel the South East region of the US is a promising market, and having such a strong partner in Sofos Harbert we are strengthening one of our pillars in our US strategy.”
“We have the certainty that the Southeastern region of the US is going to be one of the most important solar energy markets in the upcoming years, and we as an , Alabama-based company, are in the best position to help our communities in the transition to a new energy producing scheme. We are convinced that more than a business, we are part of a brighter future and we are leaving a better world for the generations to come.”Juan Mayoral, CEO of Sofos Harbert