In more proof that the solar market just keeps getting hotter, three leaders in power management technologies have signed a memorandum of understanding (MOU) in the field of photovoltaic power generation.

Under the terms of the MOU, Delta Electronics Inc., its majority-owned subsidiary DelSolar Co. Ltd., and STMicroelectronics NV will explore strategic cooperation opportunities with the intention of concluding a strategic partnership in areas such as increasing solar cell production, and developing photovoltaic inverter and power supply applications.

“We believe that the combination of expertise offered by Delta, DelSolar, and ST, which spans the full chain from the raw silicon to the inverters and power supplies that deliver electrical energy to the users, will enable the development of more efficient technologies and products, thereby accelerating the wider use of solar energy,” RC Liang, senior technology advisor of Delta Group and CEO of DelSolar, said in a statement.

With oil prices showing no signs of coming down, the solar market is on the rise. Earlier this month, First Solar Inc., a producer of solar modules using a proprietary thin firm semiconductor technology, set its planned initial public offering at 17.5 million shares for an estimated price of $18 per share in a filing with the U.S. Securities and Exchange Commission.

Electronic News