Qatar Solar Technologies (QSTec) signed a memorandum of understanding on March 26 with Turkish state energy company Elektrik Üretim AŞ to develop the country’s solar industry. Khalid K. Al Hajri, chairman and chief executive of the Qatari company, and Ali Rıza Alaboyun, deputy minister of energy and natural resources of Turkey, attended the ceremony. With a memorandum signed on March 24 in Ankara, QSTec and domestic companies Bendis Enerji and Fernas Group will cooperate in investments in solar energy.
The company from the Persian Gulf monarchy said cooperation will draw upon its strengths, together with its partners, in solar industry expertise, research and development collaboration opportunities and solar energy applications. It holds strategic investments in German solar firms, Qatari newspaper Peninsula’s portal reported. QSTec has a 29% stake in SolarWorld AG, global company that recently announced that it is on target for revenues of over EUR 1 billion for this year. Last year the Qatari company acquired 50% of solar and semiconductor manufacturing equipment technology provider Centrotherm, according to the article.