During an official visit to China by an Azerbaijani delegation led by Deputy Prime Minister Shahin Mustafayev, an investment agreement was signed on September 9 in Chengdu.
The agreement between the Alat Free Economic Zone (AFEZ) Authority and Chinese high-tech firm Sichuan Sunsync Photovoltaic Technology Co., Ltd. will establish a solar panel manufacturing facility in the Alat Free Economic Zone, marking a significant step in Azerbaijan-China economic cooperation, News.Az reports, citing AFEZ.
The agreement was signed by Valeh Alasgarov, Chairman of the AFEZ Authority Board, and Xie Yi, Founder and Chairman of Sichuan Sunsync Photovoltaic Technology Co., Ltd.
Under the agreement, the company will construct three modern production facilities on a 23-hectare industrial land plot within the AFEZ, which is equipped with the necessary infrastructure and communications. These facilities will produce solar panels with an annual capacity of 3 gigawatts (GW), as well as silicon crystals and components. The solar panels manufactured here will also be used in the construction of a solar power plant to be built by the company in the AFEZ. A large share of the products will be exported to global markets, further strengthening Azerbaijan’s position as a strategic hub for renewable energy production.
With assets totaling 1.7 billion US dollars, Sichuan Sunsync has rapidly become a leading company in solar panel manufacturing. During his business trip to China, President of Azerbaijan Ilham Aliyev met with the Chairman of Sichuan Sunsync to discuss the establishment of a facility in the Alat Free Economic Zone that would meet the most advanced technological standards for solar panel production.
