China Sunergy Co. Ltd. (CSUN) and UAE-based Z-One Holding said Monday they will work together to bring solar energy products to the Middle East and Africa.
CSUN will hold a 60 percent stake in the new venture and Z-One Holding will hold a 40 percent stake. CSUN will provide its line of products and solutions and Z-One Holding will use its distribution network across the regions to move the products and facilitate relationships.
“Middle East and Africa are both fast-growing markets for photovoltaic, or PV, applications,”
CSUN CEO Tingxiu Lu said. “This joint venture will be a useful opportunity to offer our PV products and solutions in the two markets while working with Z-One Holding, who has an extensive distribution network and profound photovoltaic expertise. … Our track records of working with a variety of well-known enterprises located in both upstream and downstream of the PV industry has positioned us well as Z-One Holding’s partner and we look forward to capturing the lucrative opportunities together.”
The deal adds to Z-One Holding’s portfolio of eight companies working along the solar energy supply chain. The company’s investments are involved with equipment manufacturing, products distribution, consultancy, engineering, purchasing and construction services and project development for solar technology.
CSUN is a publicly traded company founded in 2004 that makes high efficiency solar cells and modules from its bases in China and Turkey.
