Germany’s Bosch Solar Energy to invest in Malaysia photovoltaics site

28 June 2011 11:37  [Source: ICIS news]

SINGAPORE (ICIS)--Bosch Solar Energy will invest €520m ($742m) to build a new photovoltaics manufacturing site at Penang in Malaysia, a company source said on Tuesday.

Construction of the new manufacturing site will begin before the end of this year, the source said.

Production at the new site is expected to begin by the fourth quarter of 2013, she added.

The completion of the entire site is expected to be completed in 2014 but no firm dates have been fixed, according to the source.

“The planned facility will cover the entire value-added chain, from silicon crystals and solar cells, to the modules which can be installed on roofs or in solar power plants,” said Holger von Hebel, chairman of Bosch Solar Energy, in an earlier statement.

Once fully functional, the manufacturing site will supply enough solar panels to power 300,000 Malaysian homes, the statement added.

The site’s output of photovoltaics products will also mainly serve Asia's solar energy market, which is growing strongly, it said.

Bosch Solar Energy is the newest business division of Germany-based Bosch Group.

($1 = €0.70)

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By: Nurluqman Suratman

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