Qatar Solar Technologies Lands $1B in Financing
Qatar Solar Technologies (QSTec) announced the financing from Masraf Al Rayan Bank for the construction of a brand new $1 billion polysilicon manufacturing plant.
As reported in PVTech, the plant will be located in Ras Laffan Industrial City and have the ability to produce over 8,000 metric tons of polysilicon annually, which would produce enough solar energy to power 240,000 homes for a full year.
With this deal QSTec is quickly joining the ranks of the world’s leading integrated solar companies, especially given its proximity to the emerging Middle East and African markets. Dr. Khalid Klefeekh Al Hajri, the chairman and CEO of QSTec recently stated, “The signing of this deal with Masraf Al Rayan [Bank] is a significant milestone for QSTec and a major step in the development of a new industry for Qatar—the solar industry.”
Dr. Hajri went on to explain, “The development of the solar industry in Qatar brings with it tremendous opportunities. The growth in demand for solar applications and technologies can only expand in Qatar, the region and the world yet will preserve our natural resources at the same time. It is all about sustainability and this new industry growth will offer a wide range of research, investment, entrepreneurship and employment opportunities.”
Qatar Solar Company Lands $1 Billion Financing Deal originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
Green Chip Stocks Editors & Contributors Jeff Siegel Jeff Siegel is the managing editor of Green Chip Stocks, an independent investment research service that focuses exclusively on renewable energy and organic and natural food markets. Nick Hodge One of the bright young minds in today's cleantech industry, Nick is putting his knowledge of nascent green markets to use in several ways... Nick is the co-author of a best-selling book and has interviewed dozens of times for TV and Web; his keen insight, uncanny foresight, and global contacts have led to double- and triple-digit wins for his readers, time after time.
Search 26k+ Solar Articles
- The Solar Vineyard House by Michael Jantzen
- Report: Solar PV Market to Recover by 2015
- Green Design Standards and the Construction Industry
- Converting Waste Heat Into Electricity Through Osmosis
- The Solar Canals of India
- In Focus: Sustainable Base
- New CPV Efficiency Record for Amonix
- Toyota Prius to be Replaced?
- Securitization and Renewable Energy
- The All-Electric Fiat 500e
- The Energy Supercomputer
- A Breakthrough or Just Another PV Module?