US micro concentrated solar power (CSP) specialist Sopogy has signed a memorandum of understanding (MOU) with Chinese contracting and financial business the Sichuan Dongjia Investment Company for equity and project finance.
The MOU outlines how Sichuan will invest in Sopogy and projects utilising its micro CSP technology in Hawaii and China. On its side of the deal, Sopogy is agreeing to expand its presence in China with Sichuan as its marketing and manufacturing partner.
The MOU was made at the Asia Pacific Economic Cooperation (APEC) meeting in Hawaii where leaders of countries in the region agreed to phase out subsidies for fossil fuels and reduce tariffs imposed on green imports.
Sopogy has been expanding its presence in Asia and in July signed an agreement with Thai conglomerate MAI Development for the construction of a 6MW solar plant in south-east Thailand