X-ELIO and Sofos Harbert announce partnership to develop solar projects in the US
- X-Elio and Sofos Harbert have entered into an agreement to create a Joint Venture for the development of solar energy projects in the US
- It is expected that the new company will be initially focused on the Southeastern market of the United States
- The new group has confirmed its intention to expand to other markets in the next years
Birmingham, Alabama / Madrid. 30 October 2018. X-ELIO, the leading global developer of photovoltaic solar energy with presence in five continents, and Sofos Harbert Renewable Energy, a leader in the design, development and construction of solar energy facilities around the world, announced today that they have entered into an agreement to form a Joint Venture (JV) that will be focused on the development and construction of solar energy projects in the United States.
The JV will be initially focused on the Southeastern market of the US. However, the management has confirmed its intention of expanding into other market regions in the upcoming years.
This agreement follows several moves of X-ELIO to expand its presence in the US, where the company expects to have 170MWdc under operation by the end of 2019. In addition, the company is currently boosting its development activity in the US through several other projects and partnerships. The firm has proven experience developing PV projects internationally and this agreement confirms its ability to create value through relevant partners, such as Sofos Harbert.
Jorge Barredo, CEO of X-Elio, said: “X-Elio has been progressively entering into the US market since its inception. In addition to our ready to build project acquisition activity, our focus and intentions in greenfield development are ramping up with this strategic partnership with Sofos Harbert. We feel the South East region of the US is a promising market, and having such a strong partner in Sofos Harbert we are strengthening one of our pillars in our US strategy.”
Juan Mayoral, CEO of Sofos Harbert, said: “We have the certainty that the Southeastern region of the US is going to be one of the most important solar energy markets in the upcoming years, and we as an , Alabama-based company, are in the best position to help our communities in the transition to a new energy producing scheme. We are convinced that more than a business, we are part of a brighter future and we are leaving a better world for the generations to come.”
About X-ELIO:
X-ELIO (www.x-elio.com) is a company specialized in the development, construction, operation and maintenance of solar plants with a presence in the United States, the Middle East, Japan, South Africa, Latin America (Mexico and Chile among others), Australia, Southeast Asia, Italy and Spain. In 2017 it achieved revenues of more than 127 million euros. The group is leader in global renewable and sustainable energy industry and has a solid accumulated experience in the construction of solar plants of more than 1,1GW, with a strong commitment to the reduction of greenhouse gases and the fight against climate change.
About Sofos Harbert:
Sofos Harbert Renewable Energy (www.sofosharbert.com) core business is its construction services for commercial & industrial and utility-scale solar energy plants. Together with its corporate partners, Sofos Energy and B.L. Harbert International, it has a combined experience of more than 15 years both in the construction industry and in the energy sector. In addition to construction services, Sofos Harbert also provides engineering, development and O&M services for the utility-scale market. Sofos Harbert’s headquarters are conveniently located in Birmingham, Alabama, within its US target market, being the Southeast region and Texas. Additionally, Sofos Harbert has offices in Spain that handle European, Latin American and African markets respectively