The Bosch Group (ZEX.DE) has begun expansion of its solar production,
breaking ground on a new manufacturing facility for subsidiary ersol
(ES6.DE).
The groundbreaking ceremony in Arnstadt, Germany was attended by Federal Chancellor Angela Merkel.
The new facility has a planned capacity of up to 90
million solar cells per year. This quantity of cells could theoretically generate enough
electricity to supply all the private households in the city, which has
a population of roughly 200,000, according to a Bosch release.
The group will invest some EUR 530 million in the facility between now
and 2012. It will manufacture both crystalline solar cells and modules.
Roughly 1,100 new jobs will be created.
With this investment, ersol Solar Energy AG will nearly triple
its present manufacturing capacity in the crystalline field to a
nominal capacity of some 630 megawatt (MW). In addition, its existing
research and development activities will be expanded, and a new
administrative building will be constructed. Start of production is
scheduled for the beginning of 2010.
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Since 2005, the Bosch subsidiary ersol has grown by an average of 70% per year.
"While we expect this rapid growth to weaken temporarily as a
result of the financial crisis, the market will return to its previous
strength by 2010 at the latest," said Holger von Hebel, the chairman of
the ersol board of management.
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