Toledo Solar eyes expansion into Europe and Central Asia
Toledo Solar is a U.S.-based thin-film solar PV manufacturer with a supply chain sourced exclusively from North America. All of its manufacturing is based in Toledo, Ohio, but that part is about to change. KordSA, a large scale, advanced material manufacturer (a division of Sabanci Holding Group), has invested in Toledo Solar and licensed rights to open Toledo Solar factories across the European continent and Central Asia, starting with Turkey and Central Europe.
The low carbon footprint and recyclability of Toledo Solar’s frameless, all-glass, thin film, and ultra-durable solar modules were big selling point, ideal solution for the rooftops of Europe.
“KordSA is deeply committed to a sustainable life and actively pursues opportunities in the area of equipment for climate technologies. We have seen that Toledo Solar’s management philosophy and technology is a great fit to KordSA’s. We look forward to executing the plans which will be built through this strategic alliance.” said Ibrahim Ozgur Yildirim, CEO of KordSA.
This renewable energy partnership between TSI and KordSA is a response to the immediate political and economic realities globally. Combined with urgent global climate concerns and long-term sustainability initiatives, European government leaders and company executives on down are looking to rapidly scale up investments in expanded solar solutions.
Toledo Solar and KordSA will work together to build gigawatts of capacity and expand the technology’s adoption beyond the rooftop to European sized solar farms (5 to 50 MW) and the rapidly growing energy sectors of floating solar, Building solar (BIPV), Automotive (AIPV), and Agricultural (AgriPV).
Aaron Bates, Chairman and CEO of Toledo Solar Inc., notes KordSA’s high operational standards and environmental stewardship as keys on their end.
“This strategic partnership will provide a meaningful contribution to Europe’s drive to achieve greater energy independence and resilience,” Bates said. “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. 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.”
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