Under the proposed JV, the companies will offer products and services to individual users in the US market. Power-Save Energy currently markets its solar panels directly to the end user through a national network.
Solar Acquisition expects to develop additional opportunities as a result of its anticipated activities in the commercial and municipal markets. Power Save Energy’s expertise in the retail sector will allow Solar Acquisition to monetize these opportunities efficiently, the companies said. The operating agreement is expected to be concluded within sixty days.
Solar Acquisition is focused on commercializing renewable energy technology. The company recently entered into letters of intent to acquire assets of three entities: Clean Power, Solar Teyin and Hyundai Heavy Industries Iberica.
