ISOFOTON has received approval for an 8.4 million euro loan from the government of Andalusia, Spain. This is in addition to a loan worth 40 million euros that has been approved by Samsung.
The investment will be used at ISOFOTON's production facility located in Malaga's Andalusia Technology Park, which employs 800 workers. A new solar panel selective emitter cell production line will be set up at this facility.
These selective emitter cells are characterized by their frontal face design that receives light, allowing improved conversion capacity of the solar ultraviolet spectrum and thus, increasing the cells' efficiency, according to the company.
Funds will also be used at ISOFOTON's new facility in Ohio, which is expected to be inaugurated at the end of this year.