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Alex Solar Lands 1 GW Project In China

May 9, 2012

Alex Solar? Not exactly a household name in the solar industry but the Shanghai-based solar company will be working on a 1 gigawatt (GW) project in Jinchang City, China over the next 5 years.

Despite not being considered a leader in the solar industry, the 1 GW of solar will be owned, financed, and developed by Alex Solar. The overall cost of the project is expected to be $1.7 billion and the power stations will be built on the western slope of Jinchang City.

Founded in 2007 by Shanghai Huayi (HY) Enterprise Group, Alex Solar has completed 4 projects totaling 55.2 megawatts (MW) of projects in the Czech Republic and two projects totaling 2.7 MW in Germany according to their Web site.

Alex Solar currently has a vertically integrated production capacity of 600 MW. With the Jinchang project using up approximately 200 MW of that capacity, Alex Solar will be looking for work.

While Suntech (STP :NYSE), Jinko Solar (JKS :NYSE) and LDK Solar (LDK :NYSE) would seem to be immediately threatened by the rise of Alex Solar, First Solar (FSLR :NASDAQ) and SunPower (SPWR :NASDAQ) better keep an eye on this company.

Alex Solar is currently hiring sales people who are proficient in English. And with the company already licensing technology from the United States, we would not be surprised to see them compete on projects in Arizona, New Jersey, New York, and California.

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