During a visit to China led by Azerbaijan’s Deputy Prime Minister and Co-Chair of the Azerbaijan-China Intergovernmental Commission, Shahin Mustafayev, an Investment Agreement was signed on September 9 in Chengdu. The agreement, between the Alat Free Economic Zone Authority and Sichuan Sunsync Photovoltaic Technology Co., Ltd., a leading Chinese high-tech firm, establishes a solar panel production facility in Azerbaijan’s Alat Free Economic Zone.
Signed by Valeh Alasgarov, Chairman of the Alat Free Economic Zone Authority, and Xie Yi, Founder and Chairman of Sichuan Sunsync, the agreement outlines the development of three advanced manufacturing plants on a 23-hectare industrial plot equipped with essential infrastructure. These facilities will produce solar panels with a 3-gigawatt annual capacity, along with silicon crystals and components. The solar panels will support the construction of a Solar Power Plant within the zone, with a significant portion of the output destined for global export markets, enhancing Azerbaijan’s role as a renewable energy hub.
This project marks a significant step in the development of the Alat Free Economic Zone and strengthens economic ties between Azerbaijan and China. It also highlights growing interest from Chinese high-tech firms in the zone. Sichuan Sunsync, with $1.7 billion in assets, is a prominent player in solar panel production. Earlier this year, Azerbaijan’s President Ilham Aliyev met with the company’s chairman to discuss establishing a cutting-edge solar panel facility meeting top technological standards.
https://report.az/en/energy/chinese-company-to-produce-solar-panels-in-the-alat-free-economic-zone