Westinghouse Solar and Sydney-headquartered CBD Energy have announced a joint venture to design, engineer, procure and construct (EPC) commercial projects in Italy.
Westinghouse Solar is a designer and manufacturer of integrated rooftop solar power systems. CBD Energy is a diversified renewable energy company. In May this year, Westinghouse Solar agreed to be bought by CBD Energy,
Westinghouse Solar CEO Margaret Randazzo commented, "This agreement is a continuation of our companies' collaborative efforts as we move towards our merger.
"As with our previously announced Harvey Norman agreement and the 1.4 MW EPC project in New Jersey, we continue to look for collaboration opportunities that benefit both entities. We believe our investment in this venture further diversifies our business, and will provide incremental earnings."
CBD Energy Managing Director, Gerry McGowan, stated, "Following merger closing, we intend to pursue additional EPC opportunities in Europe and the US."
In June 2012, CBD completed the first of several planned 5MW projects in Italy, and has negotiated the sale of that first project to a third party off-taker. CBD expects to deliver five additional 5MW projects starting in October of this year, to be sold under a framework agreement being negotiated with the same project off-taker.
In Australia, McGowan (pictured alongside) is known for his role in the airline industry.
In 1992, he formed Impulse Airlines having bought a failed regional carrier from its administrators. Impulse grew to become the largest privately owned regional carrier in Australia.
In 2000 Impulse became Australia’s third airline when it launched jet services between Sydney, Melbourne and Brisbane.
Qantas purchased Impulse in 2001 and subsequently relaunched the airline as Jetstar.
[Image at the top right courtesy Westinghouse Solar.]