PV project developer Solar Power Inc (SPI Solar) is planning to develop over 100MW of solar PV projects in Panama with SG Panama Solar LLC, a unit of SDL Solar a US-based PV project developer.

SPI Solar said it would form a joint venture company with SG Panama Solar, in which SPI would have a controlling interest.

Xiaofeng Peng, Chairman of SPI, said, “The partnership announced today expands our relationship with leading PV developer SDL Solar and marks the establishment of SPI’s presence in Latin America, which we expect to become one of the fastest growing solar markets in the world.”

Manny Sakellakis, managing member of SDL Solar added, “SPI’s proven track record coupled with its financing capabilities will allow SDL Solar to build and implement our projects in the most time efficient manner.”

SPI Solar has recently secured project financing of over US$1.6 billion from China Minsheng Bank, China Construction Bank and Suzhou Bank.

SDL Solar has built PV power plants in Greece, Italy and the US, including Hawaii.