Four Rivers BioEnergy Inc. (4Rivers), operating as Verta Energy, says it has entered into a memorandum of understanding (MOU) with Noble Solar Industries, a manufacturer of monocrystalline and polycrystalline PV solar modules, as a joint venture partner to exclusively develop solar energy projects in the U.K.
The MOU outlines a joint venture whereby the partners will operate on a 50:50 basis for all U.K. projects. The first of these projects is planned for development in phases of up to 10 MW at 4Rivers' 41-acre industrial site and adjacent land assets, located in Northumberland, England.
Noble's technology will be installed inside 4Rivers' undeveloped land and on the roofs of existing buildings. In subsequent phases, the joint-venture partners intend to develop part, or potentially all, of the approximately 100 acres of land adjacent to 4Rivers' site (the majority of which is already zoned for industrial use). The export of renewable power to the grid will be facilitated by 4Rivers' existing substation infrastructure, the companies explain.
In addition, the joint venture partners will work closely with TradeLink Solutions Ltd., the energy consultant recently appointed by 4Rivers to establish the optimum commercial solutions for the project in line with U.K. regulations and renewable energy incentive schemes.
The companies plan to execute formal documentation and commence installation on the first phase of the project in the second quarter of the year.
SOURCE: Four Rivers BioEnergy Inc.