Turkish advanced material manufacturer Kordsa has invested in US solar module maker Toledo Solar Inc (TSI) and acquired rights to open Toledo Solar fabs across Europe and Central Asia, starting with Turkey and Central Europe, building GWs of thin film solar capacity.
Part of Turkey's Sabanci Holding Group (SHG), Kordsa has licensed rights to open Toledo Solar fabs targeting rooftop solar, utility scale solar with 5 MW to 50 MW solar farms and also cater to floating solar, building integrated PV (BIPV), automotive integrated PV (AIPV) and agricultural PV (agriPV or agrivoltaics).
"We look forward to working collaboratively and strategically with Kordsa and SGH to enhance Europe and Central Asia's solar power capacity and energy independence in a responsible way," said Chairman and CEO of Toledo Solar Aaron Bates. "For too long the world has relied upon adversarial countries to meet rising energy demands. Our partnership is the beginning of a future for energy independence of nations across the globe."
Toledo Solar produces its cadmium telluride or CdTe thin film solar panels in Ohio with a local supply chain and recently announced plans to expand manufacturing capacity to 2.8 GW by 2027 (see Toledo Solar To Expand US Manufacturing Capacity).
In September 2022, it entered into a partnership with flexible mooring systems developer for floating solar projects, Seaflex to co-market their respective technologies to promote floating solar as offering over land-based alternatives.
Recently, another Sabanci group entity Sabanci Renewables entered the US solar market with the acquisition of 272 MW Cutlass Solar II project from Advanced Power (see North America PV News Snippets).