Hyundai Heavy to Build Korea’s Largest Solar Cell Plant
Oct. 11, 2010 - Hyundai Heavy teams up with France's Saint-Gobain to build Korea's largest thin-film solar cell factory. Hyundai Heavy held a signing ceremony for the construction contract on October 8 in Paris. The ceremony was attended by Hyundai Heavy Chairman & CEO Min Keh-sik and Saint-Gobain Chairman Pierre-Andre de Chalendar.
Under the contract, Hyundai Heavy Industries and Saint-Gobain will each invest 50% of the 220 billion won solar cell factory. Construction will start from December 2010 and is scheduled to be completed by the first half of 2012.
Upon completion, the solar cell factory will have an annual production capacity of 100MW CIGS (copper, indium, gallium, selenide) solar cells. The plant is a step toward Hyundai Heavy's target of being in the Top 5 global solar power producers by 2015 with an annual capacity of 400MW. The new plant will also make Hyundai Heavy the sole Korean company that can produce both thin-film and crystalline solar cells.
Saint-Gobain, the world's largest glass and construction material producer, will provide high quality glass for the production of CIGS solar cells through its Korean unit, HanGlas. Saint-Gobain is now producing the most efficient thin-film solar cells, which are the fruit of its 30 year-long research and development.
The contract is meaningful in the fact that Hyundai Heavy can advance mass production of thin-film solar cell in Korea and preoccupy the next generation photovoltaic market in cooperation with Saint-Gobain.
Hyundai Heavy's Chairman Min Keh-sik said "Hyundai Heavy is now writing new chapters in Korea's photovoltaic industry by opening new era of thin-film solar cell. Hyundai Heavy will grow to become a leading player in the global solar power market."
Hyundai Heavy is the sole Korean company with an integrated solar power production system manufacturing a full range of solar power products such as polysilicon, ingot/wafer, solar cell, solar module and solar power system.
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Hyundai Heavy Industries Co., Ltd. (HHI) is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy.
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