SolarWorld AG (SWV.DE) has commissioned its first manufacturing facility for solar power modules in Asia together with its Korean joint venture partner SolarPark Engineering Co. Ltd. The module factory in the South Korean city of Jeonju has a capacity of 150 megawatts (MW).
With the new manufacturing facility SolarWorld Group hopes to take advantage of the market growth for solar power technology in Asia.
"In Korea and Japan alone we are expecting an increase in the market volume of at least 800 MW each by the year 2012," Frank H. Asbeck, Chairman and CEO of SolarWorld AG, said.
The factory was completed on schedule at a cost of EUR 30 million, SolarWorld said in a release. The cost was split 50:50 between the two joint venture partners.
SolarWorld AG and SolarPark Engineering Co. Ltd. intend to cooperate in the future on the construction of turn-key plants for the manufacture of solar power modules worldwide, also for third parties. To this end an agreement was signed at the opening of the module factory for the creation of the joint venture SolarPark Manufacturing Equipment Ltd.
As a result, SolarWorld AG is adding the construction of production plants to its operations.
"We are the only company in the solar industry to integrate everything from the production line to the complete solar power station under one roof", says the Chairman and CEO of SolarWorld AG, Frank H. Asbeck.
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