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German and Qatari firms enter solar JV

by Gerhard Hope on Mar 2, 2010

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The deal to manufacture solar panels in Qatar is signed.

SolarWorld, Germany’s biggest solar company by revenue, has acquired nearly a third of a Qatar-based polysilicon joint venture in a move to shift production abroad in light of rising labour costs at home.

The joint venture, Qatar Solar Technologies (QST), will invest more than US $500 million in the construction of a solar-grade silicon plant with a planned annual capacity of 3600 tons, SolarWorld and Qatar Foundation said in a joint statement.

Production is scheduled to start in the third quarter of 2012. German solar equipment maker Centrotherm will be technology partner for the Qatar-based joint venture.

SolarWorld is to own 29% of the joint venture, while partners Qatar Foundation and Qatar Development Bank will own 70% and 1% respectively.

German solar companies are making great efforts in moving production abroad as looming cuts in solar incentives as well as high labour costs in Germany, the world’s largest solar market, are putting huge pressure on margins.

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