Innovative Solar System (ISS) announced joint venture with VivoPower for development of 37 Utility Scale Solar Farm projects which total 1.8GW’s. ISS will develop solar projects and VivoPower intends to design, finance and construct each project under its BTO (build, transfer and operate) model and will also have the rights to acquire project in the portfolio after it is fully developed.
VivoPower International CEo, Dr. Philip Comberg said that they are excited to secure a high quality portfolio of solar projects to support their BTO model and they are pleased to expand their successful relationship with Innovative Solar. ISS have assembled a very attractive, diversified pipeline of solar projects, and this initiative establishes a strong foundation of future growth and profitability for our company.
Innovative Solar co-founder, John Green said that they are enthusiastic about our joint venture with VivoPower. They have had great success with their team in the past, and their collaborative approach fits our culture very well.
Whereas Innovative Solar co-founder, Richard Green said that their joint venture with VivoPower will allow them to accelerate the growth of their business by having a reliable partner to monetize our portfolio of solar projects following the completion of their predefined development milestones.
Image Source: Innovative Solar System