LG Display to invest $40 million in thin film solar cell R&D line
Seoul, Korea Jun 16, 2009
Source: Reuters.com
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE55F19B20090616
Flat-screen maker LG Display Co Ltd said on Tuesday it would invest 50 billion won ($40 million) in a pilot line and testing facility for solar power cells, aiming for commercial production in 2012. LG Display, the world’s No. 2 maker of liquid crystal display screens, is one of many technology firms broadening their business to the high-potential renewable energy areas.
The pilot line would be built by the end of this year to facilitate research of thin-film solar cells, LG Display said in a statement. The South Korean company said it would initially target the market for cells used in solar power plants, buildings and public displays with an aim to eventually expand into solar cells for mobile displays and automobiles.
Research firm Nano Markets expects the market for thin-film solar power cells to grow to $14 billion in 2015 from $4.6 billion in 2011, according to LG Display. LG Display shares were down 0.16 percent at 0242 GMT, compared with the wider market’s 0.68 percent loss.