SolarWorld to build first production plant in Asia

[OKIsItJustMe]

http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSL0840198420080208

SolarWorld to build first production plant in Asia

Fri Feb 8, 2008 11:48am EST

FRANKFURT, Feb 8 (Reuters) - Germany's SolarWorld (SWVG.DE: Quote, Profile, Research) paved the way for its first production site in Asia as it signed an agreement with joint-venture partner SolarPark Engineering for a solar module plant in South Korea, it said on Friday.

The facility, which is due to go on stream in 2009, would initially have a production capacity of 120 Megawatt (MW) and could reach 240 MW at a later stage.

The two companies would keep the option open to set up a solar cell production at the same location, the company added.

SolarWorld's Chief Executive Frank Asbeck told Reuters the site would absorb an investment of around 60 million euros ($87 million).

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