Italy's Bee Solar, China's Huasun team up on solar panel components
ROME, Aug 2 (Reuters) -Milan-based Bee Solar and China's Huasun 000790.SZ have signed a cooperation agreement in the photovoltaic sector, Italy's industry ministry said on Friday, adding that the deal was part of a broader alliance with the Chinese industry ministry.
Chinese solar components dominate the market in Europe due to their affordability, fuelling fears that the continent could be over-reliant on Beijing's products and technologies to meet its decarbonisation goals.
To mitigate the risk, the Italian government has backed initiatives by domestic solar component producers and is brokering alliances with Chinese manufacturers.
"This partnership fully responds to the goal that our countries intend to achieve in the field of green technologies," Italy's Industry Minister Adolfo Urso said in a statement.
Bee Solar aims to set up a photovoltaic production hub in Italy utilising Huasun's technology and know-how. The construction of the site is expected to start by March 2025.
Meanwhile, Huasun is interested in strengthening its position in the European market through cooperation with Bee Solar, the ministry said.
The agreement was signed following Italian Prime Minister Giorgia Meloni's trip to China earlier this week, which has already led to the signing of a deal between EuroGroup Laminations and Hixih in the automotive field.
Other agreements in the green technology sector may be announced in the coming days.
Reporting by Marta Di Donfrancesco; editing by Francesca Landini, Kirsten Donovan
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
