Nanjing-based photovoltaic (PV) manufacturer, China Sunergy (CSUN), has signed a deal with the UAE’s Z-One Holding to establish a joint venture company, CSUN Solar MEA FZC, that will sell a full range of solar products and solutions developed by China Sunergy, reported PV Tech.
CSUN CEO, Tingxiu Lu, was quoted by PR Newswire as saying that this move is to help the company to better target fast-growing PV technology market in the Middle East and Africa.
CSUN has facilities also in Turkey and is a world leader in the design, manufacture, and delivery of high efficiency solar cells and solar modules. The company was reported to have faced financial difficulties in 2015.
Z-One Holding is a stakeholder in eight companies that cover the whole PV value-chain. This includes equipment manufacturing, products distribution, and consultancy, as well as engineering, purchasing, and construction (EPC) services and project development, wrote Trade Arabia,
CSUN owns 60% of CSUN Solar MEA, leaving Z-One Holding with the remaining 40%, as stipulated in the terms of the agreement.