OPEL Solar, Ecotech Environmental Technology Launch OPEL Solar Asia

OPEL Solar, a USA-based high concentration photovoltaic (HCPV) solar and other solar products manufacturer, declared that it has formed OPEL Solar Asia, in Hong Kong in alliance with Ecotech Environmental Technology, a Hong Kong-based company.

The joint venture will allow the company to enter into the East Asia markets with its HCPV products. The signing of the contract will allow the HCPV technology of the company to penetrate one of the fastest developing solar markets in the world especially the Chinese solar market.

Frank Middleton, OPEL Solar’s COO, said that by signing the joint venture with Ecotech his company has found a well-established associate to penetrate the markets of East Asia and advance its opportunities in China, which is predicted as the most robust solar photovoltaic market in the world. He added that the sound knowledge of Ecotech over the region and its large client-base will put OPEL Solar in an advantageous position with least start-up expenses. Middleton explained that the new venture, OPEL Solar Asia (OSA) has commenced its operations with a 2 MW order for its HCPV system products, which include its solar and tracker modules. He explained that the products, which are meant to meet an order obligation of Ecotech within the People’s Republic of China has opened up a multimillion dollar sales opportunity for the company and resulted in profits in the first year of the joint venture operations.

Leon M. Pierhal, OPEL Solar’s CEO, said that the growing CPV markets in East Asia will allow the company to earn over $100 million as profit in the next four or five years period. He explained that the joint venture decision is taken to sustain the growth of the company in the region.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.