â€˘ Qatar Solar Technologies Wins Best Joint Venture Award (Middle East)
â€˘ QSTec Middle Eastâ€™s leading Solar Joint Venture Company
â€˘ Qatar Foundation, SolarWorld AG and Qatar Development Bank bag Major Clean Tech Award for Best Joint Venture
Online PR News – 12-December-2011 – – London, United Kingdom â€“ Qatar Solar Technologies today announced that it had won The New Economy Magazineâ€™s Clean Tech & New Energy Award for Best Joint Venture, Africa/ Middle East.
The New Economy Magazineâ€™s Clean Tech & New Energy Awards, which were presented to the winners at the London Stock Exchange, were established to recognise companies that are set to guide the worldâ€™s renewable energy future through innovation, vision and leadership. QSTec, formed in March 2010, is a joint venture between Qatar Foundationâ€™s solar investment arm Qatar Solar, SolarWorld AG and the Qatar Development Bank. QSTec is currently building an 8,000 metric ton per annum polysilicon plant in Qatar worth US$1bn with a vision to become an integrated solar energy company.
â€śTogether with our joint venture partners we have formed QSTec to develop a solar industry for Qatar and build an organisation whose solar products, services and technologies are known throughout the world for their quality,â€ť said Dr Khalid Klefeekh Al Hajri, Board Member and CEO of Qatar Solar Technologies. â€śAs individual companies, our joint venture partners are known as leaders in their fields and when visionary leaders come together with access to unrivalled resources we can achieve great things. Qatar Solar Technologies is honoured to be recognised with this award as the Middle East and Africaâ€™s leading solar industry joint venture company and we look forward to a bright future.â€ť
The winners of the Clean Tech and New Energy Awards 2011 were selected by The New Economy Magazineâ€™s panel of industry experts and readers from a record number of global nominations. "With its vision, commitment to excellence and solid market experience coupled with a strong financial backing, it is evident that QSTec is ideally positioned to become one of the most significant renewable energy players globally, as well as positioning Qatar as the most innovative technological and sustainable hub within the Middle-East," said Jan Spiegel, Editor of The New Economy.
The four month long awards selection process selected organisations that are at the forefront of clean technologies and new energy advancement and possess a vision for the future that will add value to their industry and society.
About Qatar Solar Technologies
Qatar Solar Technologies (QSTec), with a vision to become a world leading integrated solar energy company is a joint venture formed between Qatar Solar (a wholly owned subsidiary of Qatar Foundation for Education, Science and Community Development), SolarWorld AG and Qatar Development Bank. Qstecâ€™s polysilicon manufacturing plant, located on 1.2 million sqm of land in Ras Laffan Industrial City, will initially produce 8,000 Metric Tonnes Per Annum of polysilicon for use in the solar industry before vertically integrating along the solar value chain. QSTec has acquired the advanced second generation technology for solar grade polysilicon production from Centrotherm Photovoltaics of Germany. QSTecâ€™s polysilicon production facility is valued at US$1bn and will be ready in the second half of 2013.