DGAP-News: SolarWorld concludes Joint Venture in Emirate of Qatar
(firmenpresse) - SolarWorld AG / Miscellaneous
01.03.2010 08:26
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First silicon production planned on the Arabian Peninsula
Bonn/Doha: SolarWorld AG acquires a stake of 29 % in the newly founded
Joint Venture Qatar Solar Technologies (QST) headquartered in the Emirate
of Qatar. The Joint Venture will establish the first production facility
for poly-silicon on the Arabian Peninsula. Partners are the Qatar
Foundation (70%) and the Qatar Development Bank (1%).
QST will invest a total of more than 500 million US dollars in the
construction of the new silicon production facility with a planned annual
capacity of around 3,600 tons. The highly advanced production plant will
produce poly-silicon with a purity of 99.99 %. Start of production is
planned for the third quarter of 2012. Full capacity will be reached in
2013. At the Ras Laffan Industrial City location in the North East of Qatar
the Joint Venture has access to an excellent chemicals infrastructure with
favorable energy prices. Here a forward integration along the entire solar
value chain all the way to the finished solar power module could be
implemented. A change of thinking is taking place on the Arabian Peninsula
from which a larger and larger market for solar power systems is
developing.
Qatar is one of the world's largest supplier countries for natural gas that
has so far been securing its power supply on the basis of natural gas.
'With the conversion of natural gas via electricity into solar-grade
silicon the reach of the gas virtually increases by a factor of more than
25 for as long as our solar power modules can generate clean energy from
the sun' says Frank H. Asbeck, Chairman and CEO of SolarWorld AG when
signing the contract this Monday in Doha in the presence of Her Highness
Sheikha Mozah Bint Nasser Al Missned.
With the project SolarWorld AG is further securing its supply of
solar-grade silicon in addition to the company's own production, its own
raw materials recycling activities and its long-term delivery contracts.
The technology partner for the construction of the production line is the
German company centrotherm photovoltaics AG with which SolarWorld AG has
previously cooperated successfully in the development of its manufacturing
facilities.
About Qatar Foundation
Founded in 1995 by His Highness Sheikh Hamad Bin Khalifa Al Thani, Emir of
Qatar, and chaired by Her Highness Sheikha Mozah Bint Nasser Al Missned,
Qatar Foundation for Education, Science and Community Development is a
private, non-profit organization committed to the principle that a nation's
greatest natural resource is its people. The headquarters of Qatar
Foundation are located within its flagship project, Education City, an
eight million square-metre campus which hosts numerous progressive learning
institutions and centres of research, including branch campuses of five of
the world's leading universities, plus a cutting-edge research and
development centre. Qatar Foundation also works to enhance the quality of
life in Qatar by investing in community health and development. For more
information, please visit: www.qf.org.qa
About SolarWorld AG
The SolarWorld AG Group (ISIN: DE0005108401) is a worldwide leader in
offering brand-name high quality, crystallinesolar power technology. Its
strength is its fully integrated solar production. From silicon as the raw
material via wafers, cells and modules all the way to turn-key solar
systems including recycling the group combines all the stages of the solar
value chain. The central business activity is selling quality modules to
the specialist trade and crystalline wafers to the international solar cell
industry. Group headquarters are located in Bonn/Germany. Production sites
are to be found in Germany, the USA and South Korea. The largest production
facilities are operated by the group in Freiberg/Germany and in
Hillsboro/USA. Sustainability is the basis of the group strategy. Under the
name of Solar2World the group supports care projects using off-grid solar
power solutions in emerging economies and developing countries, exemplary
of sustainable economic development. Worldwide, SolarWorld employs more
than 2,700 people. Since 1999 SolarWorld AG has been quoted on the stock
exchange, among others in the technology index TecDAX,ÖkoDAX, Dow Jones
STOXX 600, the international MSCI Index as well as in the sustainability
indices DAXglobal Alternative Energy and NAI.
Contact Press: Phone: +49 228/55920-400, E-Mail: press(at)solarworld.de
Contact Investor Relations: Phone: +49 228/55920-470, E-Mail:
placement(at)solarworld.deFax: 0228/55920-9470
www.solarworld.de
01.03.2010 08:26 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: SolarWorld AG
Martin-Luther-King-Straße 24
53175 Bonn
Deutschland
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 99
E-mail: placement(at)solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, München, Hamburg, Stuttgart;
Terminbörse EUREX
End of News DGAP News-Service
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Datum: 01.03.2010 - 08:26 Uhr
Sprache: Deutsch
News-ID 17123
Anzahl Zeichen: 0
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Kategorie:
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