For the introduction of advanced technology,
expand clean energy inverters and PV inverter industry, Wolong Electric Group
Co., Ltd. a subsidiary of Wolong Electric Group Co., Ltd. in Hangzhou Institute
July 12, 2012 with the Spanish Wind to Power System SL company (referred W2PS)
signed a memorandum of cooperation.
Wolong Electric Board recently announced
that the Board of Directors approved a joint motion, the two sides will
cooperate in a joint venture in Hangzhou Binjiang Hi-tech Development Zone,
Hangzhou Wolong Electric Group New Energy Co., Ltd., engaged in clean energy
inverters and PV inverter products and related solutions R & D, productionand sales.
According to reports, W2PS company is a
major commitment to research and development, manufacture and distribution of
renewable energy and network solutions for power electronics, power quality and
low voltage ride through (LVRT) test equipment Spanish company, has
successfully developed a high-power photovoltaic Solar2PS inverters and related
solutions, and in different regions of the completion of a series of product
certification.
In this partnership, the registered capital
of the new energy Wolong Electric newly formed 50 million yuan, of which
invested 30 million yuan Wolong Research Institute, accounting for 60% of the
registered capital, W2PS company invested 20 million yuan, accounting for 40 of
the registered capital %. After the completion of the project is expected to
form an annual output of 240MW of clean energy inverter production capacity.
Wolong Electric said this joint venture is
conducive to the introduction of high-power photovoltaic pure sine wave power inverter design and
manufacturing technology, enhance the market competitiveness of the company's
clean energy inverter products, develop new profit growth point.
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