The revenue generated from the Yieldco will be used by the team to fund for new solar power projects, reported Investor’s Business Daily.
A registration statement will be filed by the partners with the Securities and Exchange Commission (the SEC), following master formation agreement, for an initial public offering (IPO) of limited partner interests in the YieldCo (the IPO).
During an earnings call in May 2014, First Solar CEO Jim Hughes was quoted by Forbes as saying: "We have been pretty good at monetizing our assets efficiently."
YieldCo formation and the IPO completion are subject to the definitive documentation implementation, board approval of each firm and regulatory approvals.
The partnership would combine the polysilicon technology of SunPower and the thin-film panels of First Solar for the solar power projects.
Commenting on the advantages of this joint venture, Bloomberg New Energy Finance clean-energy analyst Jacqueline Lilinshtein said: "A portfolio of the two technologies, which operate in different sectors and geographies, could reduce risk, lower capital costs and widen the pool of operating assets that feed into the yieldco."
Image: First Solar and SunPower to launch a new joint venture YieldCo to operate solar-power generation assets. Photo: courtesy of franky242/Freedigitalphotos.net.
