Oct 13 2015
ET Solar, a leading smart energy solutions provider, through its Latin American subsidiary, ET Solar Chile, announces today it has formed a consortium with WEG (Bovespa: WEGE3 / OTC: WEGZY), one of Brazil's most prestigious industrial companies. The consortium will deliver professional, turnkey PV solutions for the growing Brazilian market.
Leveraging the local manufacturing strength of WEG and the global EPC experience of ET Solar, the consortium will be able to offer investors integrated, turnkey solutions for their PV pipelines in Brazil. In addition, the consortium plans to offer O&M services taking advantage of the synergies of ET Solar's O&M experience and WEG's distributed service network.
"ET Solar's global EPC experience delivering turnkey projects coupled with WEG's high-quality components will allow our consortium to offer products and services packages to investors that will conform with the financial pre-requisites established by the Brazilian Development Bank (BNDES)at a moment when the Brazilian market is very receptive to PV solutions implementation," mentioned Mr. Manfred Peter Johann, Managing Director of WEG Automation.
The consortium has already begun working with customers tailoring solutions to their specific needs, and anticipates kicking off construction activities in 1Q 2016.
Mr. Jaime Portaluppi, ET Solar's Managing Director for Latin America, commented, "The consortium grants access to the Brazilian market with compliance with BNDES content requirements. Our partnership comes at a time when Brazil is giving signals of embracing PV as a viable and cost effective alternative to their energy matrix."
About ET Solar
ET Solar is a leading smart energy solutions provider. With innovative solar technologies and tailored financial solutions, ET provides professional one-stop solutions across the entire solar power plant lifecycle including development, financing, engineering, procurement, construction, and operations & maintenance. To learn more about ET Solar, please visit http://www.etsolar.com/smart_solutions.asp.
About WEG
Founded in 1961, WEG (Bovespa: WEG3 / OTC: WEGZY) is one of the global leading electro-electronics manufacturers through five product lines: motors, energy, transmission and distribution, automation and paints. To learn more about WEG, please visit http://www.weg.net/br.
Source: http://www.etsolar.com/