SANYO Electric Co. Ltd. and Nippon Oil Corp. will launch a joint company for the production and sale of thin-film solar panels, to be named SANYO ENEOS Solar Co. Ltd.
SANYO says it will draw on its solar cell technologies, based on the technology acquired through the development of the HIT Solar Cell, which is capable of the world's highest conversion efficiency, as well as its extensive research performed over the last 30 years related to thin-film solar cell technologies.
Nippon Oil plans to utilize its raw materials technologies, such as petroleum production, acquired through petroleum processing and chemicals manufacturing, and the strong relationships it has established with oil-producing countries in the Middle East, which are expected to become major markets for photovoltaic systems in the future.
The new company aims to become a global leader in the production of thin-film solar modules, accelerating the commercialization of high-performance, reliable thin-film solar systems. Production and sales will begin at a scale of 80 MW in fiscal year 2010.
SOURCE: SANYO Electric Co. Ltd.