Qatar, Germany set up solar power JV

 
Qatar Foundation says the deal marks "the first phase" in the Gulf state's push into the solar energy field. The deal gives Qatar Foundation a 70 percent stake in the project, and Qatar Development Bank another 1 percent. Bonn, Germany-based SolarWorld will hold the rest. The companies will set up a plant in northern Qatar to produce 3,500 tons of polysilicon annually. Qatar Foundation says the deal, announced Monday, is valued at more than $500 million.