German solar manufacturer, SolarWorld AG announced it will build an integrated solar cell and module production plant in South Korea to serve growing demand in Asia.
The project will be a joint venture with with S.Korean engineering firm, SolarPark Engineering Co. Ltd.
The plant will open with 60 megawatts (MW) of capacity with the potential to scale to 120MW. Production will begin by the end of next year.
SolarWorld will supply the silicon, and the modules will be marketed under the joint brand, SolarWorld Korea Ltd. They will be sold exclusively in Korea, Japan and China.
S. Korea has a feed-in tariff, making it the largest market for grid-connected solar power in Asia, after Japan.
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