The China-based photo voltaic producer and Oman’s renewable funding entity Bakarat Investment have agreed to collectively construct a ten GW photo voltaic module manufacturing unit within the nation with an funding of almost $200 million.
China-based photo voltaic producer Q-Sun Solar has signed an settlement with Oman’s renewable funding entity Bakarat Investment to collectively construct a ten GW photo voltaic module manufacturing unit within the nation with an funding of round $200 million.
The facility, positioned within the Sohar Free Trade Zone, ought to have a capability of 8 GW for modules and a pair of GW for cells. It will produce TOPCON and heterojunction (HJT) panels.
Founded in 2014 and headquartered in Chuzhou City, Anhui Province, Q-Sun Solar operates branches within the US, Germany, Singapore, and different international locations, with merchandise bought in additional than 50 international locations.
Bakarat Investment, a frontrunner in Oman’s renewable vitality sector, has in depth experience and powerful challenge administration capabilities. Its investments vary from renewable vitality to superior medical laboratories and youth teaching programs.
“This deep collaboration with Q-Sun Solar marks an necessary milestone for the renewable vitality sector in Oman,” mentioned Ahmed bin Saud Al Salmi, chief government officer of Bakarat Investment. “The challenge demonstrates our dedication to introducing the most recent know-how, supporting the ‘2040 Vision’ by way of tangible actions, and selling financial development by way of job creation and technological development .”
“Our funding in Oman underscores our willpower and dedication to advance the worldwide photovoltaic trade by way of innovation and strategic partnerships,” mentioned Qin Wenming, chairman of Q-Sun Solar. “This collaboration with Bakarat Investment not solely helps Oman’s renewable vitality transition targets but in addition represents an necessary a part of our strategic plan for sustainable vitality improvement within the Middle East and past. We hope this partnership will put Oman on the worldwide renewable vitality stage, driving a brand new vitality panorama within the Middle East and supporting the worldwide zero-carbon mission.
In late June, Shenzhen-listed Chinese photo voltaic cell producer Hainan Drinda New Energy Technology signed an settlement with the Oman Investment Authority (OIA) to construct a ten GW cell manufacturing facility in Oman. The whole funding for the challenge is roughly CNY 5.078 billion ($699.4 million). Drinda’s wholly-owned subsidiary, JTPV – a significant impartial cell provider listed on the Shenzhen Stock Exchange – will construct the manufacturing unit. This is Drinda and JTPV’s first publicly introduced funding challenge overseas.
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