Solar product manufacturer China Sunergy has signed a memorandum of understanding (MoU) with Deniz Finansal Kiralama (DenizLeasing), a subsidiary of DenizBank Financial Services Group, in order to set up a partnership for capital leasing for up to 100MW solar power projects in Turkey.
DenizLeasing will support financial leasing for solar photo voltaic (PV) projects in Turkey under the Mou. China Sunergy, on the other hand, will supply solar modules and other equipment for the PV projects.
DenizLeasing general manager Kahraman Günaydin said: "We are delighted to partner up with China Sunergy to mutually capitalise on the fast-growing solar market in Turkey.
"Over the past couple of years, China Sunergy has quickly established technology leadership in Turkey with its high-efficiency superior quality of products.
"We believe DenizLeasing’s strong brand and network, combined with China Sunergy’s proven capability and firm commitment to grow its market presence in Turkey, together represent an exciting growth opportunity for the partnership and an excellent value proposition to our joint customers."
China Sunergy chairman and CEO Tingxiu Lu said: "We are pleased to kick-off a strategic partnership with DenizLeasing, who, in our view, is a leading financial leasing company in Turkey.
"This partnership expands our go-to-market capabilities in Turkey, which we believe can greatly accelerate the availability and deployment of our products, enhance our ability to serve our expanding customer base across Turkey and the surrounding markets, as well as extend our overseas financing flexibility.
"We look forward to a long and mutually profitable partnership with DenizLeasing, one that we hope will be a springboard for broader collaborations and relationships with other members of the DenizBank Group."