Hyundai Joins Forces with Matinee to Build US Solar Plants

19 April 2010 (Last Updated April 19th, 2010 18:30)

Shipbuilder Hyundai Heavy Industries, LG Electronics and Matinee Energy have joined forces to build solar power plants with a total combined capacity of 240MW, under a deal. Matinee chairman Michael Pannos said that through the alliance it can improve competitiveness and overall contrib

Shipbuilder Hyundai Heavy Industries, LG Electronics and Matinee Energy have joined forces to build solar power plants with a total combined capacity of 240MW, under a deal.

Matinee chairman Michael Pannos said that through the alliance it can improve competitiveness and overall contribution in the green energy markets.

The strategic alliance for the projects worth $1bn will enable Matinee to reach economies of scale in both solar and wind turbine energy projects, the company said.

The firm plans to build utility scale solar energy plants over 900MW primarily in the Southwest US in future.