Azerbaijan, China Ink Investment Deal To Build Solar Panel Plant In Alat Free Economic Zone

As part of Deputy Prime Minister Shahin Mustafayev's visit to China on September 9, an Investment Agreement was signed in Chengdu between the Alat Free Economic Zone Authority and Sichuan Sunsync Photovoltaic Technology Co., Ltd., one of China's leading high-tech companies. Mustafayev is co-chair of the Azerbaijan–China Intergovernmental Commission.

According to Azernews, the agreement was signed by Valeh Alasgarov, Chairman of the Board of the Alat Free Economic Zone Authority, and Sie Yi, founder and chairman of Sichuan Sunsync.

Under the agreement, the company will construct three modern production facilities on a 23-hectare industrial site in the zone, fully equipped with infrastructure and communications. The facilities will have an annual capacity of 3 gigawatts of solar panels, as well as silicon crystals and related components. The solar panels will also be used in the construction of a solar power plant that Sunsync plans to build within the zone. A significant share of the output will be exported to global markets, strengthening Azerbaijan's position as a strategic hub for renewable energy production.

The project represents a milestone in the development of the Alat Free Economic Zone and will further enhance economic cooperation between Azerbaijan and China. It also reflects the growing interest of Chinese high-tech companies in the zone.

Sichuan Sunsync, with assets totaling 1.7 billion, has rapidly become a leading producer of solar panels. During his recent working visit to China, President Ilham Aliyev received the company's chairman, discussing the establishment of a cutting-edge solar panel manufacturing plant in the Alat zone.

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