Several Europe-based solar module and system companies have started approaching Asian investors with an aim to boost their working capital and their partnerships, according to market sources.

Brand-name solar players, which are mainly based in Europe, have strong competitors in Asian firms who enjoy advantages from low production costs, the sources said. With business severely hit by plumetting prices, solar players need cooperation and new funds to stay alive, the sources pointed out.

About three to four Europe-based solar module and system firms are aggressively seeking partnerships with Asia-based fellow companies, particularly those in Taiwan, China and Japan, the sources observed. Possible mergers are also being considered, the sources added.

More Europe-based solar players are also seeking and identifying new potential funding sources as the recent debt crisis in Europe has affected banks' willingness to lend money, the sources indicated.

The sources did not disclose any company names.

Source:digitimes