Tuesday February 10, 05:59 AM
Sanyo says it will build new solar cell plant
TOKYO, Feb 10, 2009 (AFP) - Sanyo Electric Co (Berlin: SAE1.BE - news) . said Tuesday it plans to build a new solar cell plant in Japan, as it aims to double its production of the technology to meet growing demand for clean energy.
Japanese companies are continuing to invest in the development of environmentally friendly products, vying for a share of a market they hope will buck the recession.
The Sanyo plant, to be built in Osaka prefecture in western Japan, is scheduled to start operations by the end of 2010, Sanyo spokeswoman Kumiko Makino said.
The facility will produce solar cells with a higher power generation capacity than those made at another Sanyo plant in central Japan, she said.
Sanyo also plans to jointly build a factory for another type of solar cell with Nippon Oil Corp (Berlin: NIO.BE - news) ., aiming to sell the cheaper products to developing countries such as China, the spokeswoman said.
The new plants will double Sanyo's current solar cell output capacity to 680,000 kilowatts annually, she said.
Sanyo, which is being bought by its bigger rival Panasonic Corp., has been stepping up its focus on environmentally friendly products.
Last week it reported a quarterly loss but said it expected to avoid ending the year in the red thanks to brisk sales of rechargeable batteries.
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