Sichuan Sunsync Photovoltaic Technology will produce solar panels in Alat Free Economic Zone

During the visit to China by a delegation led by Deputy Prime Minister Shahin Mustafayev, co-chair of the Azerbaijan-China Intergovernmental Commission, an Investment Agreement was signed on September 9 in Chengdu between the authorized body of the Alat Free Economic Zone and one of China's high-tech companies, "Sichuan Sunsync Photovoltaic Technology Co., Ltd." for the establishment of a solar panel production facility in the Alat Free Economic Zone.

BAKU.WS reports with reference to AZERTAC that the document was signed by Valeh Alasgarov, Chairman of the Board of the authorized body of the Alat Free Economic Zone, and Xie Yi, founder and chairman of "Sichuan Sunsync Photovoltaic Technology Co., Ltd."

According to the agreement, the company will build three modern production facilities on a 23-hectare ready-made industrial land plot equipped with necessary infrastructure and communications in the Alat Free Economic Zone. The facilities will produce solar panels with an annual production capacity of 3 gigawatts, as well as silicon crystals and components. The solar panels produced at this facility will also be used in the construction of a Solar Power Plant that will be built by the company in the Alat Free Economic Zone. Most of the products will be exported to global markets, which will further strengthen Azerbaijan's position as a strategic center for renewable energy production.

The project, while being an important stage in the development of the Alat Free Economic Zone, will also contribute to strengthening economic cooperation between Azerbaijan and China. The implementation of this project will create a foundation for increased interest in the Alat Free Economic Zone by China's high-tech companies.

It should be noted that "Sichuan Sunsync," with assets worth 1.7 billion US dollars, has been able to become a leading company in the field of solar panel production in a short period of time. During his business visit to China, President of Azerbaijan Ilham Aliyev received the head of "Sichuan Sunsync" company, and issues related to the establishment of a facility for the production of solar panels in the Alat Free Economic Zone that will meet the most modern technological standards were discussed.

Qalereya