Neo Solar signs LOI for equity stake in US solar project

12 October 2011 (Last Updated October 12th, 2011 18:30)

Neo Solar Power has signed a letter of intent (LOI) to acquire an equity stake in BlueChip Energy’s (BCE) Sorrento solar farm project in Florida, US.

Neo Solar Power has signed a letter of intent (LOI) to acquire an equity stake in BlueChip Energy's (BCE) Sorrento solar farm project in Florida, US.

Neo Solar Power will supply 10MW of solar cells for the 120MW project, under the terms of the LOI.

BCE's subsidiary, Advanced Solar Photonics, will convert the cells into solar panels.

The solar project is currently under construction, and has secured permits and licences certified by the US Federal Energy Regulatory Commission.

BCE vice-president for strategic development Yongshuang Wang said, "We are delighted to be working with NSP as a partner. They are one of the largest cell producers in the world, their product is top quality and, most importantly, NSP's executive management understands that to truly thrive in the PV industry, it is necessary to put your product to work in projects generating electricity revenue."