Solar Trust of America has signed a letter of intent with SolarHybrid, a photovoltaic (PV) developer, to form a joint venture (JV).
The new company, to be called SolarHybrid of America, will develop, build and manage utility-scale solar power projects in North America.
The JV will develop stand-alone PV sites, as well as projects with PV and concentrating solar power technology in the same location.
Under the letter of intent, SolarHybrid of America will operate out of Solar Trust’s Oakland office in the US.
Solar Trust chairman and CEO Uwe Schmidt said that from the outset, the company’s plan has been to bring utility-scale solar power to the growing US market as a vertically integrated engineering, construction and services provider that is technology agnostic.