Lightway Solar America Extends Agreement With G&S Solar

Lightway Solar PVLightway Solar America Inc, the US subsidiary of Chinese company Lightway Green New Energy, has announced a supply agreement with G&S Solar to provide 34 MW of multicrystalline solar PV modules. G&S will purchase over 122,000 panels during the course of a one-year period which started in December 2011 with 8 MW and has now been expanded.

The Chinese company opened its US office in Iselin, New Jersey at the end of 2010. Since then it has captured a significant portion of the market through the development of a sound bankable product coupled with technological innovation and a variety of financial options for customers. The last quarter of 2011 saw the company enter into supply agreements worth over 100 MW which will be delivered throughout 2012. The parent company owns a manufacturing plant in Gaobeidian, China, which employs over 5,000 people. It plans to reach 600 MW of production during 2013 and 1500 MW in 2014 with one major objective being the development of their US market through their subsidiary. The company has a sales office in New Jersey and warehouses on both the east and west coasts.

"The future success of Lightway will depend on our ability to develop long term relationships with project developers that have the capability to excel in a market that is dominated by third party financing" said Wei Qiang, Lightway's CEO. "We are confident that G&S Solar has an investment strategy that allows them to remain financially aggressive and we are pleased to begin this new partnership that will solidify our eastern seaboard footprint."

Greg Wasser of G&S said that they had been looking for a supplier that was willing to become a long term financial partner. "We feel that our partnership with Lightway is a critical component of our growth strategy as we evolve into a new era of the solar industry" he added.

 

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