The JV will focus on facilitating and structuring nonrecourse financing to build and own the plants in China, which aims to reach 35GW by 2015 and 100GW by 2020.

SunEdison could purchase the projects developed by the joint venture at fair market value, directly or through an affiliate, including a yieldco.

SunEdison president and CEO Ahmad Chatila said: "It is a great honor to partner with a leader like JIC Capital, and we are committed to harnessing our world leading technology and deployment capabilities to deliver clean, cost effective solar energy to the people of China."

JIC Capital chairman JianPing Zhang said: "Capital contributions will accelerate the growth of the solar market in China, and China’s solar PV industry requires international know-how to improve.

"We see this collaboration brings opportunities to combine capital and industry, to form a focused industrial investment platform for long-term operations."

The solar power plants’ operation and maintenance will be carried out by SunEdison Renewable Operation Center (ROC), which provides global 24/7 asset management, monitoring and reporting services.

China has approximately 19GW of installed solar energy capacity.

Currently, the JV is exploring and evaluating several large-scale projects and is likely to commence construction in early 2015, as part of the agreement.