Qatar firm to explore Turkish solar market
Qatar Solar Technologies signed a memorandum of understanding with Turkish state energy company Elektrik Uretim Anonim Sirketi to develop Turkey's solar industry
Qatar Solar Technologies signed a memorandum of understanding with Turkish state energy company Elektrik Uretim Anonim Sirketi to develop Turkey's solar industry.
The MoU will explore areas of mutual interest that aim to further develop Turkey's solar industry.
The MOU addresses Turkey's progressive energy diversification plans and the country's increasing solar energy requirements.
Turkey is aiming to have over 3 gigawatts of installed solar capacity and has expressed strong support for prioritising renewable energy investment and the involvement of the private sector to assist in the diversification of Turkey's energy sources.
Additionally, to enhance arrangements implementation QSTec has signed MoUs with Turkish industrial groups, Bendis Enerji and Fernas Group, to cooperate in solar energy industry investments.
With Turkey's energy requirement forecast to increase at 6% per year until 2023, solar energy will play a major role in the country's energy mix.
The cooperation will draw upon the strengths of QSTec and its partners across several key areas including solar industry expertise, research and development collaboration opportunities, solar energy applications, investments as well as examining other areas of mutual interest where QSTec can make a positive contribution to Turkey's solar industry.
QSTec has steadily been expanding its presence within the global solar industry and its strategic investments in key German solar companies have turned it into a world leading integrated solar company.
QSTec's holds a 29% stake in SolarWorld AG, a global solar company that recently announced that it is on target in 2016 for revenues of over 1bn euros.