Canadian Solar continues its global expansion efforts, announcing this week that it has signed a solar joint venture with Japan’s West Holding. Although it is incorporated in Canada, the company bases its manufacturing operations in China. Canadian Solar’s solar cells and modules are sold worldwide.
On the other hand, West Holding distributes residential solar systems in Japan. The new solar joint venture should help grow its expansion into the Japanese PV panel market. Specifically, West Holding will distribute and sell solar residential rooftop systems designed by Canadian Solar Japan, with a 2010 sales target for this year of about 18 MW.
Under the terms of the deal, the Japanese subsidiary of Canadian Solar will transfer 14% of its shares to West Holding, while retaining the rest.
Tags: canadian solar, PV panel market, residential solar systems, solar cells modules, solar joint venture, solar manufacturing, west holding
