SolarWorld is close to securing financial backing from a Qatari investor, its CEO Frank Asbeck has confirmed.
A source revealed to Reuters that Qatar Solar Technologies (QSTec) was willing to take a minority stake in the company. SolarWorld currently holds 29% of QSTec.
In April, QSTec and SolarWorld AG signed a memorandum of understanding with the Educate A Child programme, launched in November 2012 to donate solar panels to selected schools in specific countries.
Furthermore, in March, SolarWorld and QSTec were involved in a joint venture at Barwa’s Passivhaus-Baytna sustainable housing project in Qatar.
Asbeck has declined to name the investor but revealed the announcement would be made at SolarWorld’s extraordinary shareholder meeting, which is yet to be arranged.