Sanyo Electric Co., Ltd. (6764.T) and Nippon Oil Corporation (5001.T) have confirmed plans to create a joint company for the production and sale of thin-film solar panels. The company will be called Sanyo Eneos Solar Co., Ltd.
The new company will start production and sales at an initial scale of 80 megawatts (MW) in Fiscal Year 2010 and gradually increase its production capacity, the partner companies said in a release.
The goals for the future scope of business are 1 gigawatt (GW) for annual global production and sales by FY2015 and around 2 GW for the annual global production and sales of thin-film solar by FY2020.
For this joint project, Sanyo will draw on its solar cell technologies, based on the technology acquired through the development of the HIT Solar Cell.
Nippon Oil Corporation will utilize its raw materials technologies, acquired through petroleum processing and chemicals manufacturing. It also hopes to take advantage of established relationships with oil-producing countries in the Middle East, which are expected to become major markets for photovoltaic systems in the future.
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