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Solar panel manufacturers, Türkiye’s Alfa Solar and Germany-based Astronergy Europe, have signed a joint venture agreement to establish an integrated wafer and solar cell production facility in Türkiye’s Balikesir, the company announced on Friday.
According to the statement, the project targets an initial annual production capacity of 2.5 gigawatts (GWs), starting from ingot slicing and extending through fully integrated wafer and cell manufacturing.
The first phase of the facility is expected to require an investment of approximately $200 million. Following the planned share transfer and capital increase processes, Alfa Solar and Astronergy Europe aim to hold equal 50-50 ownership in Astroenergy.
According to the disclosure filed with Türkiye’s Public Disclosure Platform (KAP), the companies concluded negotiations on Nov. 14 after months of talks aimed at creating a shared corporate structure for the project.
The partners plan to make the joint investment through Astroenergy Yuksek Teknoloji Enerji Sanayi ve Ticaret A.S., a company fully owned by Astronergy Europe and registered with the Istanbul Trade Registry.
The manufacturing plant is expected to be built on a plot allocated within the Balikesir Organized Industrial Zone, a government-designated industrial area that hosts medium- and large-scale manufacturers. The companies also plan to apply for Türkiye’s High-Technology Investment Program, known as HIT-30 and overseen by the Industry and Technology Ministry, which supports projects aimed at expanding domestic production capacity in advanced technology sectors and seeks to attract $30 billion in foreign investment.
The agreement outlines the core principles of the joint venture, but the launch of operations depends on regulatory approvals. Share transfers, capital participation procedures, and the effective start of the project will require clearance from relevant institutions, including the Turkish Competition Authority.
Astronergy Europe is the Germany-based subsidiary of Chinese energy group Chint, which operates in more than 140 countries and manages a global portfolio of solar investments. The company oversees approximately 40 GW of solar energy assets worldwide and currently maintains 100 MWp of installed solar capacity and project management operations in Türkiye.
The new venture is viewed as part of Chint’s strategy to expand its existing 850 MW solar panel production facility in the country, which was announced in April during an event in Ankara attended by Chint CEO Lu Chuan, President Recep Tayyip Erdogan, and Industry and Technology Minister Fatih Kacir. At the event, the company committed to investing $500 million as part of its expansion efforts.
Alfa Solar Energy is a leading solar panel manufacturer in Türkiye, specializing in photovoltaic technology with an annual production capacity of 2 GW and offering advanced panel types like half-cut, bifacial, and TopCon panels.
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