Ankara, Turkey, 24th of March 2016 - In the presence of Dr Khalid K. Al Hajri - Chairman and CEO of QSTec and Ali Rıza Alaboyun – Deputy Minister of Energy and Natural Resources; Qatar Solar Technologies (QSTec) signed an MOU earlier today with Turkish ELEKTRİK ÜRETİM that will explore areas of mutual interest that aim to further develop Turkey’s solar industry.
The MOU addresses Turkey’s progressive energy diversification plans and the country’s increasing solar energy requirements. Turkey is aiming to have over 3 gigawatts of installed solar capacity and has expressed strong support for prioritizing renewable energy investment and the involvement of the private sector to assist in the diversification of Turkey’s energy sources.
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.
With Turkey’s energy requirement forecast to increase at 6% per year until 2023, solar energy will play a major role in the country’s energy mix. The cooperation will draw upon the strengths of QSTec and its partners across several key areas including solar industry expertise, research and development collaboration opportunities, solar energy applications, investments as well as examining other areas of mutual interest where QSTec can make a positive contribution to Turkey’s solar industry.
QSTec has steadily been expanding its presence within the global solar industry and its strategic investments in key German solar companies have turned it into a world leading integrated solar company. QSTec’s holds a 29% stake in SolarWorld AG, a global solar company that recently announced that it is on target in 2016 for revenues of over Euro 1 billion, additionally in 2015 QSTec acquired 50% of the solar and semi-conductor manufacturing equipment technology provider, Centrotherm, who also revealed that it had received substantial orders for it’s products this year on the back of high solar industry demand. QSTec’s investments allow it to provide solar solutions right across the solar value chain and its key partnerships, MOU’s and cooperative agreements with local and international companies and research institutes have turned QSTec into a global powerhouse.
Turkey and Qatar have a long history of friendship and cooperation in the political field and business sectors. The Qatari Ambassador to Turkey, H.E. Salem Mubarak Shafi Salem Al-Shafi, sees this important MOU as a natural extension of these well-established partnerships. "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. “We applaud the leadership of Turkey and the Minister for Energy and Natural Resources, Mr Barat Albayrak, for their renewable energy initiatives and Turkey’s continued commitment to solar energy.”
Turkey has one of the highest solar irradiation levels in Europe, especially in the central and southern regions, and long daylight hours, making for ideal conditions for producing solar energy.
“QSTec and its partners are delighted to be working with Turkey to assist in enabling its full solar energy potential. 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,” said Dr Khalid K Al Hajri, Chairman and CEO of QSTec. “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. We are extremely positive about Turkey’s solar energy future and proud to be a part of it.”
Solar energy costs have reduced considerably over the last few years while technology and efficiency have improved leading to a booming market for solar. As solar costs continue to decline we have seen a 34% increase in 2015 in the number of global solar installations. These reduced costs combined with Turkey’s high solar energy potential and renewable energy vision are a good combination for Turkey’s continued solar industry development.