MEDIA RELEASE PR38630
/C O R R E C T I O N -- Germany Trade and Invest/
BERLIN and TOKYO, Mar. 5 /PRNewswire-AsiaNet/ --
In the news release, "Showa Shell Solar Establishes European Base in
Germany" issued on 5 Mar 2010 14:30 GMT, by Germany Trade and Invest over
PR Newswire, we are advised by a representative of the company that the first
paragraph, second sentence should have read. "Along with the company's renaming to Solar
Frontier, the CIS (copper-indium-selenium) photovoltaic module manufacturer will open its first
European office in Munich in 2010." rather than "Along with the company's renaming to Solar
Frontier, the CIS (copper-indium-selenium) photovoltaic module manufacturer will open its first
European office in Munich in 2012." as originally issued inadvertently.
Complete, corrected release follows:
Japanese solar company Showa Shell Solar has announced a new
investment in Germany. Along with the company's renaming to Solar Frontier,
the CIS (copper-indium-selenium) photovoltaic module manufacturer will open
its first European office in Munich in 2010. Germany Trade & Invest supported
the company with its investment plans.
Aiming to ramp up production to reach a sales goal of 1
million kilowatts worldwide in 2012, the Munich office, alongside a new
American counterpart in California, will play an integral role in achieving
this mark. The company's production figures will increase by more than ten
times its current level, strengthened by an additional plant that will begin
production in mid-2011.
Solar Frontier CEO Shigeaki Kameda: "The German priority on
both economic and ecological criteria precisely matches Solar Frontier's top
design and production mandates. Germany is also the world's largest market,
so we have three very critical reasons to invest here: the German priority on
economy, the German priority on ecology, and the German market size. We
therefore expect to fulfill very strong demand."
Solar Frontier's decision to invest in Germany also serves it
well for access to growing photovoltaic markets across Europe. Germany is
home to approximately half the solar modules in operation worldwide, based on
recent industry estimates. This market continues to grow as 2009
installations exceeded expectations, likely surpassing 3.0 GW.
Germany is home to the largest solar cluster in the world that
encompasses a wide range of manufacturers, suppliers, and research
institutes. Together, these innovators create a synergy that has added
photovoltaics to the long tradition of the "Made in Germany" label, a symbol
for high quality and innovation.
Solar Frontier manufactures proprietary thin-film modules that
substitute silicon with the key ingredients copper, indium, and selenium. The
company benefits from competitive material prices compared to conventional
silicon wafer-based modules. The thin-film modules are expected to reach a
14.2 percent efficiency level by 2011. Solar Frontier was assisted by Germany
Trade & Invest and Invest in Bavaria, the economic development agency for the
federal state of Bavaria. Germany Trade & Invest is currently showcasing the
latest opportunities available in the world's largest solar market at this
year's PV Expo (East Hall 4, Stand no. 26-22), taking place March 3 - 5 in
Tokyo, Japan.
Germany Trade & Invest is the foreign trade and inward
investment promotion agency of the Federal Republic of Germany. The
organization advises foreign companies looking to expand their business
activities to the German market. It provides information on foreign trade to
German companies that seek to enter foreign markets.
Eva Henkel
Germany Trade & Invest
Email: eva.henkel@gtai.com
Phone: +49(0)30-200099-173
Source: Germany Trade and Invest
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