Masdar invests US$230 million into German plant to produce thin film PV modules
Masdar invests US$230 million into German plant to produce thin film PV modules. The factory will be opened in third quarter 2009, the plant has a targeted annual production capacity of 70MW, and will create more than 180 green jobs.
It will produce the world’s largest (5.7 sqauare metres) and most powerful PV modules, on equipment from the world’s leading supplier Applied Materials, to drive the cost reductions necessary to make solar energy an affordable reality.
As a leading global centre for PV technology, Germany was selected as Masdar’s first PV plant location. The German plant will act as a blueprint for technology and knowledge transfer to a 140MW Abu Dhabi plant, which will begin initial production by third quarter 2010. Output from both facilities has already been committed to major PV system installers in Europe, and for Masdar’s own energy generation needs.
“Abu Dhabi’s geography and our vision to become a world leader in renewable energy, makes thin-film PV a natural area of focus for Masdar,” said Dr. Sultan Al Jaber, CEO of Masdar. “Germany, with its technology, highly-skilled workforce, attractive investment climate, and direct access to the European market, make it an ideal partner for Masdar.”
The company plans to hit 1 GW of annual production by 2014.
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