2. $200M 2.5GW Solar Hub: Alfa Solar & Astroenergy Europe Partner in Balıkesir

Turkish photovoltaic (PV) module leader Alfa Solar and Astroenergy Europe- the European arm of China's Chint New Energy-have officially signed a joint venture (JV) agreement to construct an integrated solar wafer and cell production base in Balıkesir Province, northwestern Türkiye. The project marks a pivotal step in Türkiye's quest to strengthen its domestic renewable energy supply chain and Chint's broader plan to build a 5GW integrated manufacturing hub in the country.

: The JV, named "Astroenergy," will be equally owned (50:50) by Alfa Solar and Astroenergy Europe following planned equity transfers and capital increases .

: The first phase requires $200 million in investment, targeting an initial annual production capacity of 2.5GW-covering ingot slicing, wafer manufacturing, and solar cell production .

: The facility will be built on designated land in Balıkesir's Organized Industrial Zone, leveraging the region's industrial agglomeration advantages .

: Core cooperation terms are finalized, with project launch pending approval from Turkish regulatory authorities .

: The JV qualifies for Türkiye's HIT-30 High-Tech Investment Program, securing benefits including 20% equipment subsidies and a 5-year corporate income tax exemption .

The project addresses a critical gap in Türkiye's PV ecosystem: while the country hosts 75 solar panel manufacturers (44.5GW total capacity), only three produce solar cells (6.1GW combined capacity) . Once operational:

Around 80% of output will be exported to Europe, the Middle East, and the U.S., capitalizing on Türkiye's strategic location as a Eurasian hub .

The remaining 20% will supply Türkiye's domestic market, supporting the country's target of 120GW wind and solar capacity by 2035 .

For Chint, the JV kickstarts its $700 million 5GW Türkiye expansion plan-set to reach full capacity by 2028 with integrated module production added in the second phase . It builds on Astroenergy's existing 1GW module plant in Adana, Türkiye, further solidifying the company's regional supply chain .

: Founded in 2011, Türkiye's PV benchmark brings local market expertise, mature distribution networks, and experience in half-cut TOPCon module production .

: Backed by China's Chint New Energy-an early pioneer in n-type TOPCon mass production-contributes advanced TOPCon 4.0 technology, global operational experience, and financial backing .

Their collaboration aligns with Türkiye's HIT-30 program goals, which aim to attract $30 billion in foreign investment for high-tech sectors and establish 15GW of domestic PV upstream capacity .

Türkiye aims to source 47.8% of its power from renewables by 2025 and achieve net-zero emissions by 2053 . The 2.5GW JV will:

Reduce reliance on imported solar wafers and cells, enhancing energy security.

Create high-tech jobs and drive regional economic development in Balıkesir.

Foster R&D collaboration between private enterprises and Turkish research institutions, as mandated by the HIT-30 program .

"Astroenergy's partnership with Alfa Solar is a model for cross-border collaboration in clean energy," said a representative from Chint New Energy. "We're proud to contribute Chint's TOPCon technology to Türkiye's energy transition while expanding access to sustainable power solutions globally."

An Alfa Solar spokesperson added: "This project strengthens Türkiye's position as a renewable energy manufacturing hub, combining local market insights with world-class technology to deliver value for both our countries."