Lightway Solar America Inks 11.8 MW Deal
Despite Hurricane Sandy shutting down Wall St. and most of the Northeast, companies are still announcing deals. Lightway Solar America, the U.S. subsidiary of China-based Lightway Green New Energy Co., Ltd, is supplying 11.8 megwatts (MW) of solar panels to San Francisco’s Pristine Sun.
Lightway Green New Energy is one of the many small solar companies in China that is seeking to make a name for itself globally. With a modest balanced production of 660 MW (up from the 400 MW listed on their website), Lightway says they will double their manufacturing capacity to 1,200 MW in 2013 and increase to 1,500 MW in 2014. Extremely aggressive growth considering most large solar manufactures are cutting buck on their production capabilities.
Pristine Sun is looking to grow its business in California by offering low interest rate installations for residential customers and no money down installations for commercial customers.
Claiming to have a pipeline valued at over $1 billion, it will be interesting to see if Pristine Sun is actually a legitimate player in a few years or just another solar company trying to create some hype.
And considering that both companies issued an announcement on a day when the news outlets are focused on one of the largest storms ever to hit the Northeast, taking either company very seriously is hard to do.