Why Did ALFAS Shares Skyrocket? Investors Are Waiting

Why Did ALFAS Shares Skyrocket?

Alfa Solar Energy (ALFAS) shares surged after the company signed a joint venture agreement with Germany-based Astronergy Europe. This significant development created excitement among investors and also established the new valuation of ALFAS shares after Friday's close.

Joint Venture and Goals

The company signed a shareholder agreement with Astronergy to set up an integrated wafer and cell production facility in Turkey. This joint venture will be shaped by the investment in Astronergy High Technology Energy. The aim is to establish a production facility with an annual initial capacity of 2.5 GW, covering the processes from ingot cutting to cell production.

Investment Details

It is anticipated that the total investment amount for the initial phase will be approximately $200 million. The production facility is planned to be located in the Balıkesir Organized Industrial Zone. In the statement regarding the partnership structure of the project, it is targeted that the shares in Astraenergy will be shared equally (50%-50%) between Alfa Solar and Astronergy Europe. Additionally, it is expected that the project will benefit from the High Technology Investment Program of the Ministry of Industry and Technology of the Republic of Turkey.

Rise in ALFAS Shares

Following this development, ALFAS shares began to be traded at 48.50 TL, marking an increase of 9.98% on the market day. This rise attracted investor interest and led the shares to reach the ceiling level. However, the information provided here should not be considered as investment advice.