Bosch builds €530m crystalline solar cell plant in Germany

24 March 2009 18:05  [Source: ICIS news]

TORONTO (ICIS news)--German automotive parts major Bosch has broken ground on a €530m ($726m) crystalline solar cells plant near Erfurt, in the country’s eastern Thuringia state, it said on Tuesday.

The facility, by Bosch subsidiary Ersol, would have a capacity of 90m solar cells/year and create 1,100 jobs after its start-up in 2010, the company said.

“This investment is part of our increasing activities in renewable energies,” Bosch chairman Franz Fehrenbach said.

Ersol chairman Holger von Hebel said that the company expected a temporary weakening "but the market will return to its previous strength by 2010 at the latest."

The solar cells industry has become an increasingly important market for specialty chemicals producers.

In related news on Tuesday, Germany’s top industrial association BDI said that the country needed to stick to its greenhouse gas reduction and energy-savings targets even amid the recession.

Germany could achieve a 30% reduction of greenhouse gases by 2020, from 1990 levels, BDI said. It pointed to a new study by consultants McKinsey & Co, which is available in German on BDI’s website.

($1 = €0.73)

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By: Stefan Baumgarten
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