7/24/2012

CSUN to invest USD 600 million in PV panel production in Turkey

Dünya - China Sunergy (CSUN), a leading manufacturer of solar panels and cells, has announced its intention to invest in a production plant in Turkey in partnership with local energy companies, Akfel Grup and Seul Enerji.

The plant, slated to be Europe’s largest photovoltaic (PV) panel manufacturing facility, is to be built at a cost of USD 600 million, according to CSUN executive Tanyan Huang. Visiting the Energy Market Regulatory Authority (EMRA) for discussions about the location of the plant, Huang said CSUN’s investment will supply the demand for solar panels in domestic, regional and European markets. “We are at the decision stage regarding the location of the plant. CSUN aims to reach a capacity of 600 MW within three years with an investment of USD 600 million,” said Huang.

Local production by foreign companies increase demand, reduce costs and contribute to exports, according to EMRA President, Hasan Koktas. “Turkey’s increasing demand for power, long sun exposure period and proximity to Europe and the Middle East make the country an ideal investment location for renewable energy companies,” said Koktas, following the meeting with CSUN officials.

Turkey pays an extra on top of an attractive feed-in-tariff for renewable energy companies that utilize locally-manufactured equipment.
The country aims to have 100,000 MW of installed capacity in 2023, a third of which will be generated using renewable energy sources. Solar energy projects are expected to make up 9,000 MW of the total capacity.
Turkey; energy market; turkey renewable energy; turkey solar energy; turkey solar project; csun turkey; china sunergy