Italy's Bee Solar, China's Huasun team up on solar panel components

Eurogroup Laminations SpA

02/08/2024 17:03

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)
 ((Marta.Didonfrancesco@thomsonreuters.com;))