Upsolar Partners With Solstyce to Power Heritage Buildings in France

PARIS–(BUSINESS WIRE)–Upsolar, a leading international provider of solar PV modules, today unveiled a new achievement demonstrating its project financing capabilities for customers across Europe. Through a joint venture called Novengo, Upsolar and France-based EPC Solstyce developed a total of 10 rooftop installations – 3 on media institutions near Paris and 7 on high schools in Charente, France.

“A number of renewable energy projects have unfortunately become early casualties of this financial crisis. With our project finance offering, we hope to alleviate some of these funding challenges”

The project was developed in support of a local initiative to incorporate renewable energy into heritage buildings in the region. Michel Boutant, Charente Senator and President of Charente General Council, joined executives from Upsolar and Solstyce for a commissioning ceremony at Alfred Renoleau High School in the town of Mansle earlier this month.

“These solar PV systems not only provide the region with 70 percent of the schools’ electricity needs through clean power, they also allow the students to experience first hand the importance of renewable energy to their everyday lives,” said Guillaume David, President of Solstyce. “Upsolar’s assistance provided the critical final step in our quest to bring this portion of our pipeline to life, and we’re grateful for this opportunity to advance our business with high-quality and environmentally friendly modules.”

As demonstrated through the joint venture, Upsolar’s project development team now offers an alternative funding source for permitted late-stage solar projects with equity needs. Teaming with engineering, procurement and construction (EPC) firms and installers, Upsolar completes installations with company equity and also serves as the module provider for each PV system.

“A number of renewable energy projects have unfortunately become early casualties of this financial crisis. With our project finance offering, we hope to alleviate some of these funding challenges,” said Zhe Jiang, CEO of Upsolar. “We look forward to establishing additional partnerships and doing our part to ensure the solar market continues to grow despite a challenging economic landscape.”

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About Upsolar

Upsolar is a leading international solar module developer and producer, offering the solar industry’s best quality / price ratio in the global PV market. With vertically integrated, diversified manufacturing platforms, as well as an R&D-supported quality control management system, Upsolar produces high quality, reliable solar modules backed by a world-class warranty, at competitive prices. Headquartered in Shanghai, Upsolar has offices throughout Asia, Europe and North America to support an international customer-base, providing on-site technical support, customer service and product development teams. For more information, visit www.upsolar.com.

About Solstyce

Solstyce is a privately owned French company which specializes in designing, building and operating large scale photovoltaic power plants. Thanks to a versatile engineering department, Solstyce stands out by its advanced technical expertise and innovative approach, especially in dealing with the technical and legal aspects of complex projects (public access buildings, high-rise buildings, etc). Solstyce brings together its technical expertise and highest standards of quality and value in order to develop photovoltaic projects from start to finish on behalf of architects, local authorities, landowners and industrial facilities. Through each power plant delivered by Solstyce, the company reaffirms its commitment to projects that showcase advanced architectural performance and high environmental quality. Solstyce is an ISO 9001:2008 Certified Company. For more information, visit www.solstyce.fr and www.solstyce.co.uk.

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