12/28/2012

Chinese solar company invests in Turkey

Hürriyet Daily News - China Sunergy (CSUN), a specialized solar cell and module manufacturer, yesterday announced that it had set up a new manufacturing facility in Istanbul with its local partner, Seul Energy Investment. Seul is a solar system provider, solar project developer and installer based in Turkey, the Chinese company said in a press release yesterday.


In September, the two companies signed agreements to invest jointly in three newly established companies under the name “CSUN Eurasia” to produce solar cells and modules in Turkey and to invest in downstream solar projects in Turkey and neighboring countries.


The first 150 MW solar module line installed in the new facility will begin producing solar panels in January 2013, while the 100 MW solar cell line is currently being installed and will start manufacturing in March 2013, the statement read.


The company is planning to move an additional 200 MW equipment to its Turkish plant from its facilities in Shanghai in the first quarter of 2013 and to gradually ramp up production in the first half of the next year, a plan subject to market dynamics and the Turkey plant’s production progress, it said, without elaborating on the volume of the investment.


China Sunergy’s new plant will create over 1,200 job opportunities locally in Istanbul. The company expects Turkey to become its second-largest manufacturing base after China.

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