First Solar is an American photovoltaic company that is headquartered in Tempe, Arizona, US. Founded in 1999, the company has embarked on extensive research in manufacturer of solar panels, rigid film modules, and end-of-life panel cycling.
The company shifted away from depending on the US market. It started with Germany because of the German’s government subsidies in encouraging the use of solar power. It expanded to other countries as well.
Orion Group International Inc. was founded in August 2012 and deals with the exploration and development of renewable energy in Philippines. The company notes that too much reliance on fossil fuels makes the country vulnerable to price fluctuations and a possible oil crisis.
Solar Technologies in Philippines
First Solar and Orion Group released a forward looking statement that gave information about a joint venture- FSO Energy Solutions. It is hoped that the venture will promote the use of solar energy through commercial and industrial applications through power purchase agreements.
Each of the two companies have a lot to bring to the venture. On one hand, First Solar is a vertically integrated solar energy company. In addition to that, it boasts sufficient international exposure and the technology that comes with it. On the other hand, Orion Group boasts an established footprint, engineering and technology integrated practices, and the utility of PV solutions in both the commercial and industrial market. The company has used renewable energy to power factories, houses, golf courses, hotels, and hospitals. In an effort to reach out to the wider client base, the company does not require a down payment in order for its clients to enjoy its products.
The First Solar’s regional manager for Asia Pacific-John Curtis- stated the following:
We are delighted to be collaborating with OrionGroup to address the demand for commercial and industrial consumers in the Philippines who are looking for a alternative energy source that is reliable, less volatile in price, and lower in cost.
The importance of partnerships for solar energy adoption
Joint ventures play a critical role in technology exchange and also has a major role to play in determining the success of a project or lack of it thereof. Orion Group says that it will light the way to a brighter, cleaner, and greener future. First Solar says it is delighted to enter into a joint venture with OrionGroup in order to advance the use of renewable energy in Philippines and in the wider Asian community. Overall, the fruition of the joint venture will be an inspiration to other joint ventures in the renewable sector.