Hyundai Heavy Industries (HHI) and France’s Saint-Gobain signed an investment agreement to build a 400 megawatts (MW) CIGS thin-film solar cell plant in South Korea. HHI said it will be the largest thin-film manufacturing site in the country.
The other signee of the agreement is the regional government of Chungcheongbuk-do, which oversees the Ochang Foreign Investment Zone.
The agreement expands on an earlier announcement suggesting the 50-50 joint venture, called Hyundai Avancis, would have a 100 MW capacity.
Friday’s announcement said the facility will contain four separate buildings, each of which will house a 100 MW manufacturing line.
Completion is expected by 2015. HHI said it will be the only Korean company producing both thin-film solar cells and crystalline solar cells.
The facility is expected to create 1000 solar jobs.
Loading...