ET Solar and Tunghsu Kangtu Solar have decided to tap overseas markets together in the wake of slowdown in China’s solar market.
Tunghsu Kangtu Solar will use its capital to support ET Solar’s ability to receive large orders. ET Solar will share its sales network with Kangtu Solar to develop overseas markets together and deliver the best products and service to global customers.
This follows the slump in solar business in China after Beijing announced its policy to cut subsidies for most solar projects.
Halting of installation quotas in 2018 for ground-mounted solar energy projects in China and limiting distributed solar activity to 10 gigawatts will have industry implications given that the country accounted for 54 percent of global installations in 2017.
Many Chinese solar module manufacturers have released their promotion plan to overseas markets.
ET Solar has focused on the overseas markets since its founding in 2005, and has a sales network with high brand reputation and recognition. ET Solar is also one of the few Chinese companies whose modules can offer clients high bankability from banks worldwide.
Kangtu is a module manufacturer by Tunghsu Group.
ET Solar and Kangtu are founding members of Smart JADE, a photovoltaic alliance founded in June 2018 aimed at resolving short-term pressure and achieving coordinated development.