/c O R R E C T I O N -- Germany Trade And Invest/

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6th March 2010, 03:46am - Views: 800






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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

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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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