German solar cell producer Q-Cells AG, (QCE.F) the world’s largest producer of solar cells, announced plans to build a production complex for thin-film solar modules in Mexico.
The company has reached an agreement with the Mexican Federal Government, the Government of the State of Baja California and Silicon Border Development–a developer of industrial parks for high-tech-companies–to build a facility in Mexicali, the state capital of Baja California, close to the US border.
Q-Cells expects to achieve a better access to the American growth markets and hedge against currency fluctuations.
The agreement implies that Q-Cells will invest up to $3.5 billion in the mid to long term.
The expansion plans are contingent upon the development of the photovoltaics markets in the US, Mexico and Latin America, that will be supplied from Mexicali.
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