US firm set to invest up to $6 billion in solar power

US firm set to invest up to $6 billion in solar power

ISTANBUL - Anatolia News Agency
International Capital Alliance (ICA), a U.S.-based investment group, has decided to pour $6 billion into a solar-energy business in the southern province of Kilis, Industry Minister Nihat Ergün said yesterday in a televised interview.

The company is considering both building a facility at which to produce solar panels and other solar devices, as well as generating power, Ergün said.

“This is not just an investment in solar-energy production, it is also an investment in the production of solar panels. The cost of this investment will be $700 million. In three to four years’ time, the company aims to produce 2,000 megawatts of power. A solar-panel power station which produces 2,000 megawatts is a $6 billion investment,” Ergün said.

Other opportunities
“Other U.S. companies want to invest in converting waste water into usable water in villages and places where there are no sewage-treatment systems. They are requesting land for this kind of investment.” The minister also said the government’s new incentive plan, which privileges the less-prosperous southern and southeastern provinces, will help attract further foreign investments.

ICA is an U.S.-based firm assisting businesses internationally with creative alternatives to dated business financing. It is a factoring brokerage company, working with institutional lenders as well as private investors.