Agreement to develop Turkey's solar sector pennedby Kim Kemp on Mar 27, 2016
Qatar and Turkey have signed a Memorandum of Understanding (MoU) to develop Turkey's solar sector.
Turkey is aiming to have over three gigawatts of installed solar capacity in line with its diversification drive.
In this light, it has prioritised renewable energy investment and encouraged private sector involvement, as the country’s energy requirement is forecast to increase at 6% per year until 2023, and solar energy will play a key role in the country’s energy offering.
Turkey and Qatar have a long history of friendship and cooperation in the political and business arenas.
The Qatari ambassador to Turkey, HE Salem Mubarak Shafi Salem Al-Shafi, sees this important MoU as a natural extension of this relationship: "Our two great countries share many interests and have a very long history of collaboration across many different industries.
“I’m very proud that QSTec is further strengthening these close ties by assisting in the development of Turkey’s solar industry,” said His Excellency Al-Shafi.
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, Qatar Investment Bank (QIB) reports.
The cooperation will draw upon the strengths of QSTec and its partners across numerous key areas including solar industry proficiency, research and development partnership opportunities, solar energy uses, investments as well as investigating other areas of shared interest where QSTec can make a constructive impact on Turkey’s solar industry.
QSTec’s investments allow it to provide solar solutions across the solar value chain and its key partnerships, MOUs and cooperative agreements with local and international companies and research institutes have turned QSTec into a globally recognised integrated solar company.
The company holds a 29% stake in SolarWorldAG, a global solar company that recently announced that it is on target in 2016 for revenues of over $1.1bn (EUR1bn).
Additionally, in 2015 QSTec acquired 50% of the solar and semi-conductor manufacturing equipment technology provider, Centrotherm, who revealed that it had received considerable orders for its products this year on the back of high solar industry demand.
Turkey’s high solar irradiation levels, especially in the central and southern regions, and long daylight hours, makes for ideal for producing solar energy.
Dr Khalid K Al Hajri, chairman and CEO of QSTec said: “Turkey’s high solar irradiation is excellent for producing clean solar energy and by working together with the right researchers, investors and local companies, we can make a substantial contribution to Turkey’s renewable energy goals.”
He added: “Developing local expertise within the solar industry is an important component in addressing Turkey’s solar energy targets and QSTec and its partners have much experience in this area.”
As solar costs continue to decline there has been a 34% increase in 2015 in the number of global solar installations.
These reduced costs in addition to Turkey’s high solar energy potential and renewable energy vision, are a good combination for Turkey’s continued solar industry development.
- UAE: ALEC signs enterprise agreement with Aconex
- ConocoPhillips appoints new Qatar business head
- Qatar earth-moving equipment market set to grow 5%
- Empower launches mobile chiller trailers in Dubai
- KBW confirms two infrastructure projects in Jordan
- Caterpillar: New 320D2L excavator more efficient
- Siemens raises outlook following quarterly growth
- Sohar Industrial's $51m Phase 7 works 30% complete
- Kalmar to supply tractors to Khalifa Port Terminal
- Levitating pods to revolutionise UAE transport