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Back to Latest Solar NewsLATEST SOLAR NEWSLG to invest $160m in solar cell production LG Electronics (LG), has decided to convert its A1 plasma panel-manufacturing line in Gumi, Korea, into a solar cell production line and invest $160 million by 2010 to establish two production lines. The company expects that the first line will be able to begin mass production from the first quarter of 2010, with the second line beginning full operations in the first quarter of 2011. Both lines will manufacture crystalline silicon solar cells and modules with a capacity of 120MW each. “Leveraging LG’s cumulative R&D knowledge in various photovoltaic technologies for the last three years as well as our mass manufacturing expertise will allow us to quickly become a global player in the solar cell and module manufacturing business,” said Kevin Cha, managing director of LG Electronics Levant.LG currently operates a solar cell business team under its chief technical officer (CTO). The company has also progressively accumulated R&D knowledge to further expand its business into the solar energy industry as a new growth engine. As a part of this strategy, LG Electronics acquired solar cell business by transfer from its sister company, LG Chem Ltd, in June this year. Industry experts forecast that crystalline silicon solar cells will make up 80 per cent of the solar business, in contrast to thin film solar cells. Currently, the global solar industry market is valued at more than $10 billion. |
