Suntech Power Holdings Co. Ltd. has announced a joint venture to expand its PV cell manufacturing capacity by 1.2 GW PV. The company will partner with Wuxi Industrial Development Group and Wuxi New District E&D Group to own and operate a 1.2 GW PV cell production facility located at the heart of Suntech's Wuxi campus.
Suntech will own 40% of the joint venture and will contribute approximately $60 million toward the equity investment. A total of 600 MW of the PV cell capacity is expected to be completed by mid-2011. The remaining 600 MW will be ramped in 2011 or 2012, depending on the demand outlook, Suntech says.
SOURCE: Suntech Power Holdings Co. Ltd.