Hyundai-Avancis, a joint venture of Hyundai Heavy Industries and Saint-Gobain, has begun building a factory that will produce copper indium gallium selenide (CIGS) solar modules. According to the companies, this will be the largest CIGS fab in Korea.
Saint-Gobain and Hyundai Heavy each invested KRW 110 billion for Hyundai-Avancis, bringing the total investment for the joint venture to KRW 220 billion (approximately $200 million). Hyundai-Avancis plans to complete the PV module plant by January 2012 and start production from the second half of the year.
Initial annual production capacity will be 100 MW. Hyundai-Avancis says it may expand capacity to 400 MW by 2015 after considering market conditions.
SOURCE: Hyundai Heavy Industries