Solar Frontier to increase its US portfolio with 280MW solar pipeline acquisition

Solar Frontier has entered into a definitive agreement with Gestamp Solar to include 280MW solar power project pipeline in the US under its portfolio.

Under the deal, the development team handling Gestamp Solar’s operations in the country will work with Solar Frontier Americas, which is the US based subsidiary of the Japanese solar company.

Solar Frontier CEO Atsuhiko Hirano said: "The US downstream expansion is part of Solar Frontier’s growth strategy to accelerate our business in key global markets through 2015 and beyond."

The acquisition is expected to assist the firm in inviting broader market solutions like completed solar facilities to the country.

Solar Frontier Americas COO Charles Pimentel said, "This transaction will uniquely position Solar Frontier and its new world-class team to execute on the 280 MW pipeline, thereby strengthening our global presence and allowing us to better leverage our performance advantages to achieve higher returns for our project investors.

"This also enables our team to build a more sustainable presence for Solar Frontier in the Americas and will certainly galvanize our existing and future relationships with our partners, suppliers, and end customers."

Gestamp Solar has a global portfolio with more than 600MW of solar power generation. Backed by multinational, industrial holding group, Corporacion Gestamp, the firm has been responsible for projects in Spain, Italy, France, South Africa, Mexico, Japan, Peru, Chile and the US.

Gestamp Solar CEO Jorge Barredo Lopez said: "We believe that this vertical integration is a major advantage in future development in the US market."

The firm intends to make use of the high performance products, development team and financial strength of the Tokyo-based Solar Frontier for completing the acquired solar pipeline the US.