Wednesday, Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) revealed that its German solar photovoltaic partner Asola reached an exclusive agreement to form a joint venture in Morocco.
Under the contract, Asola and the Moroccan partner, Majdaline Holding will implement a solar module manufacturing facility, with an initial capacity of 30 MW solar modules, and with a potential to generate revenues in excess of $100 million annually in Casablanca.
The company noted that Asola would hold a controlling stake in the joint venture.
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