Sharp Corp. (6753.T) and Enel SpA (ENEL.MI) have agreed to jointly set up a photovoltaic solar production plant in Italy, according to an Enel press release.
The two companies signed a Memorandum of Understanding provides to carry out a detailed analysis for an integrated manufacturing facility for photovoltaic panels using Sharp’s triple-junction thin-film technology.
The output of the plant, whose size and structure is being assessed, will mainly go towards meeting the rising demand for photovoltaic panels in Italy, South Eastern Europe and the Mediterranean basin.
Target capacity of the plant will be 161 megawatts (MW) by the end of 2011.
Enel.si, a subsidiary of Enel, will use the panels through its franchising network of more than 370 affiliates nation-wide. Furthermore, part of the output will be utilized to install photovoltaic fields in other countries of the Mediterranean basin where Enel already has a major presence and is strongly committed to the renewable energy sector.
Enel and Sharp have worked together in the past on both commercial initiatives and in technology development.
About Sharp Corp.
Sharp, a Japanese company listed on the Tokyo stock exchange, is a world leader in consumer electronics and in the manufacture of advanced photovoltaic panels.
About Enel
Enel, a world leader in the generation of electricity from renewable sources with more than 20,000 MW of installed capacity, is expanding its efforts in this sector and in environmentally friendly technologies, with a programme of investments totalling 7.4 billion euros by the end of 2012.
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