Chinese firm to put $600 million in solar panel sector

Chinese firm to put $600 million in solar panel sector

ANKARA - Anatolia News Agency
Chinese firm to put $600 million in solar panel sector

EPDK President Köktaş (L) pose with Tanyan Hunag of Csun, a leading Chinese solar panel designer and producer. AA photo

One of the world’s leading solar panel producers China Sunergy (Csun) plans to establish a solar panel plant in Turkey with a $600 million investment, in a bid to build the largest facility of its kind in Europe.

Csun, which has a large share in solar panel and solar battery production in the global market, will realize the investment in partnership with Turkish Akfel Group and Seoul Energy.

The Chinese company’s goal is to scale up the production capacity of the plant to 600 megawatts in three years.

The Energy Market Regulatory Authority (EPDK) President Hasan Köktaş yesterday received Tanyan Huang, a representative of Csun, who is in Turkey to locate a plot for the facility.

World record holder in conversion efficiency
Csun is the world record holder of the photoelectric conversion efficiency of silicon solar cells and produces the highest efficiency photovoltaic cells in the world, said Köktaş.

The quality of sunlight, quickly increasing domestic demand for electricity, as well as its proximity to Europe and Middle Eastern markets, bring Turkey to the fore in terms of power investments, the official also said.

Thousands of solar panels will be used at houses and on land as Turkey has allowed electricity production up to 500 kilowatts without a license requirement, which attracts investors, he added.

Csun is particularly targeting surrounding countries and Europe as well as the domestic market, said Tanyan Huang.

Established in 2004, China Sunergy is a Nasdaq-listed company, which is operating 11 solar cell production lines, according to its official website.