LG Electronics (LG) announced the launch of a new busi-ness initiative with the unveiling of a solar cell production line in Gumi, about 200 kilometers southeast of Seoul. The production line will enable LG to manufacture approximately half a million solar modules a year with a total capacity of 120-megawatts (MW), the equivalent en-ergy needs of 40,000 homes annually.
The line, which will produce silicon wafer-based crystalline solar cells, will begin production next month. A second line will follow in 2011 increasing total output to 240MW on LG’s invest-ment of USD 220 billion.
LG says thee solar market is estimated to be worth around USD 11 billion and the percentage of crystal-line solar cells is expected to make up 80 percent of the market in 2010. Crystalline solar cells are comprised of silicon wafers, while competing thin-film solar cells use thin layers of materials containing electrodes.
to Daily News