Canadian Solar, Photowatt & ECM Greentech Plan to Form a JV Company in Low-Carbon Production of Silicon Ingots & Wafers/RNN

Good news on the international front as we see major players come together to produce silicon wafers using low-carbon technology, further cleaning up a very green industry and source of power:

Certainly good news for France as they take the lead in solar equipment technology.

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Canadian Solar, (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, announced this week it’s plans to partner with Photowatt, a subsidiary of EDF Energies Nouvelles and ECM Greentech, a group that is in the forefront of silicon crystallization equipment and process in France.

The three companies intend to set up a joint venture (“JV”) specialized in low-carbon production of advanced technology silicon ingots and wafers in France.  EDF Energies Nouvelles through its subsidiary Photowatt, Canadian Solar and ECM Greentech would own 60%, 30% and 10% of the equity in the JV respectively.

The JV partners are pioneers in high performance of casting mono technology, which gives the JV the potential to deliver the mono-crystalline silicon solar performance at the multi-crystalline cost.  Meanwhile, the technology developed by the JV partners would contribute to one of the lowest carbon footprints in manufacturing solar products.  France is a leader in low-carbon ingot and wafer production.