China-based ET Solar has signed a cooperation contract to enter into a joint venture (JV) with Xi'an LONGi Silicon Materials Corp, a leading high-efficiency mono-crystalline products manufacturer.

Under the JV, ET Solar and LONGi will complement and expand their respective expertise and advantages in technology, development, products, branding and sales channels. Together the companies will be dedicated to promoting high-efficiency mono-crystalline solar modules around the world, said a statement from ET Solar.

The companies consider efficiency pivotal for future solar technology development and cost breakthroughs. Cost-effective mono-crystalline technologies will be the most important engine for increasing solar power efficiency. Both companies look forward to making ET Solar a world-leading, high-efficiency mono brand, and to reaching parity with high-efficiency PV products and significant cost reductions on downstream power generation, it said.

Xinghua Wang, chairman of ET Solar, said: “This strategic contract signifies an enhancement of mutual cooperation on technology, products and global marketing.”

“Through this cooperation, our companies will complement each another, forming a compatible and efficient alliance that combines the upstream and downstream sectors of the solar industry,” he added.

Baoshen Zhong, chairman of LONGi, said: “Our companies have their respective specialities in the PV industry.”

“But we share similar views and ideas about how to develop a global market, contribute to the environment and establish a subsidy-free PV market with net metering. Our strategic cooperation will open new doors for both parties,” he added.

As an advanced solar module manufacturer, ET Solar has long been dedicated to providing cutting-edge PV products and services to satisfy customers' diversified demands for solar energy. It has provided a cumulative 5 GW of modules for customers around the globe, it said.

As the world's largest mono-crystalline product manufacturer, LONGi has always focused on R&D for mono products, leading to continuously decreasing costs and increasing Chinese market share of mono modules -- from 20 per cent to 25 per cent, it stated. – TradeArabia News Service