Hyundai to Increase Investment in Solar Cells
by Motonobu Kawai, Nikkei Microdevices, May 27, 2008
Source: TechOn
http://techon.nikkeibp.co.jp/english/NEWS_EN/20080527/152467/
Hyundai Heavy Industries Co Ltd will invest 300 billion won to increase the production of solar cells and modules from the annual output of 30MW to 330MW by 2009. Hyundai Heavy Industries built the “Eumseong factory,” a solar cell plant with 30MW annual output, investing 34 billion won in February 2007. With this additional investment of 300 billion won, the company will enhance the annual output of the existing factory to 60MW and construct a new plant with an annual output capacity of 270MW.
“Our goal is to become the core company in the global solar cell industry,” said Min Keh-sik, vice chairman and CEO of Hyundai Heavy Industries. The company is also planning to manufacture 2,500t of polycrystalline silicon material every year in collaboration with KCC Corp, besides the additional investment on the solar cell plants.