China Technology Development Group Corp. (CTDC), a provider of renewable energy solutions and network security focusing in the solar energy business in China, has signed a memorandum of understanding (MOU) with Terra Solar Global Inc., a U.S.-based PV technology research and development firm, to form a strategic partnership to develop and integrate applications of solar energy technology.
The companies say the partnership is driven by the technological advantages of Terra Solar's building-integrated photovoltaic (BIPV) solutions, as well as the cost advantages of the product and applications offerings and market opportunities in China that CTDC could offer.
Under the MOU, Terra Solar will provide its support in the research and development of solar energy technologies, as well as through establishing distribution channels of SnO2 base plate and solar products in North America. CTDC will manufacture solar products and applications, as well as identify market opportunities to introduce advanced solar energy technologies, products and systems to China.
"We expect tremendous mutual benefits from this partnership with Terra Solar," says Alan Li, CEO of CTDC." This cooperation will better equip the company with industry know-how to introduce world-leading solar energy solutions to China."
"With the extensive BIPV system delivery experience coupled with advanced thin film technology offered by Terra Solar over the last three decades, we are confident that our expertise will enable our strategic partner to grow in the China market," adds Jack C. Chu, CEO of Terra Solar.