In October, SustainableBusiness.com reported that SolarWorld AG was planning to build a solar cell and module production plant in South Korea with an initial capacity of 60 megawatts (MW). Today the company announced it is building the module production line with an initial capacity of 120 MW that can later be doubled to 240 MW.
SolarWorld said the plant is expected to open in 2009 and that they are keeping open the option of establishing a cell production process at the same location.
According to the company release, SolarWorld Korea Ltd., which is building the plant, is still a 50-50 joint venture with SolarPark Engineering Co. Ltd.
"With our first Asian solar module production we are responding to the increasing solar demand in the growth markets of Asia," says Frank H. Asbeck, Chairman and CEO of SolarWorld AG. "Especially in Korea and Japan we are expecting a rapidly rising demand for modern solar power technology."
About SolarWorld AG
The SolarWorld Group (SWV.DE) is among the top trio of the solar power industry worldwide. The group is dedicated exclusively to the core business of solar energy, combining all stages of the solar value chain, from the raw material silicon to turn-key solar power plants. The company operates production facilities in Germany and the USA.
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