Solarworld inks deal with Qatar Foundation

German solar-panel maker Solarworld has signed an agreement with Qatar Foundation to form a $500m joint venture in the Gulf state to produce silicon, the main ingredient in solar-energy panels, Bloomberg has reported. Qatar Foundation will control a 70% stake in the new JV, Qatar Solar Technologies, while Solarworld will keep a 29% stake. The silicon factory is planned to have an annual capacity of 3,600 tonnes. Purification of silicon, an energy-intensive process, will be powered using natural gas, Solarworld said.