Conergy Board Approves €250M Module, Wafer and Cell Manufacturing Facility (Hamburg)

Hamburg, Germany: Conergy Board Approves Go Ahead for €250M Module, Wafer and Cell Manufacturing Facility

http://www.solarbuzz.com/News/NewsEUMA135.htm

Hamburg-based Conergy AG is building one of the world’s most technologically advanced production plant for solar modules on the site of the former chip factory in Frankfurt (Oder). Conergy’s board of management has now given the green light for building to start.

In the first stage of development, the company will invest around €250 million in what Conergy describes as the world’s first and only fully integrated mass production of wafers, cells and modules. In the medium term, it will create more than 1,000 jobs on the site of the former chip factory.

With this investment, Conergy says the company is securing cost and quality leadership on the global market, thereby creating the foundation for further dynamic growth in its core business. The project will be financed by a syndicated loan, without drawing on funds earmarked for the company’s further expansion.

The first modules, with total output exceeding 50 Megawatts, will already start rolling off the production lines by the second half of 2007. By 2008, a production capacity of 300 MW for wafers, 275 MW for cells and 250 MW for solar modules will have been reached. The efficiency goal for the monocrystalline modules is above 17%.

<more>