Solar Thin Films Inc and Greensol Alternative Energy of Bnei Brak, Israel, have signed a letter of intent (LOI) for the purpose of forming a joint venture (JV) and strategic relationships for development and syndication of solar power projects on both a proprietary and turnkey basis.
Solar Thin Films also said that it is in preliminary talks in the US, Canada, Europe and elsewhere to form joint ventures similar to the one being negotiated with Greensol.
The company recently announced a shift in focus from the sale of turnkey factories for thin film solar module production to concentrate on establishing, financing, managing and syndicating solar plants.
In late 2010, the company also signed a letter of intent with One Globe Renewables of Colorado to form a JV.
Greensol now focuses on the development of ground mount solar PV systems in sizes ranging from 50kW to 8MW.