G&Bs Eco announced on the 4th that it has signed a supply contract worth 1 billion KRW for eco-friendly solar scrubbers with a U.S. solar power specialist company.
Through this supply contract, G&Bs Eco plans to supply scrubbers to a solar power facility in Georgia, USA. Detailed information and the counterpart have not been disclosed according to mutual contract terms.
According to G&Bs Eco, the U.S. solar company is a traditional solar cell manufacturer established by the Georgia Institute of Technology Solar Research Center, supported by the U.S. Department of Energy. It owns the largest solar power equipment manufacturing facility in North America and supplies cells, modules, panels, and more to 55 countries worldwide.
G&Bs Eco plans to accelerate its entry into the U.S. and European solar markets. This is because new solar installations in the U.S. reached an all-time high in the first quarter of this year, and a growth rate of more than three times is forecasted over the next five years. With the increasing importance of fostering and expanding solar power businesses such as Carbon Neutral 2050 and RE-100, demand for eco-friendly scrubbers is also expected to expand.
In fact, the company explained that negotiations for orders with several U.S. companies related to solar power generation are in the final stages, so meaningful results are expected in the second half of the year.
A company official said, “This supply contract is significant as it is an export contract directly signed by G&Bs Eco with a local U.S. company, not through cooperation with large corporations or consortium participation,” adding, “We are expanding market channels not only in the U.S., Europe, and China but also in various overseas countries, and we expect to secure tangible results along with the rapidly growing U.S. solar power generation market.”
Meanwhile, as the global solar power generation market rapidly grows, global installations exceeded 1 TW (terawatt, 1000 GW) for the first time last year. Also, global solar installations in the first half of this year are estimated to have significantly surpassed last year’s level due to a sharp increase in demand in the U.S., European, and Chinese markets.
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