News Article
Hyundai-Avancis breaks ground for new CIGS solar plant
The US $200 million joint venture will start with the construction of a 100 MW CIGS solar module plant which should be completed in January 2012 and begin production in the second half of the same year.
Hyundai-Avancis, a joint venture of Hyundai Heavy Industries and Saint-Gobain, held a ground-breaking ceremony for Korea’s largest CIGS thin film solar module plant.
The ceremony, held in Ochang Foreign Investment Zone, Chungcheongbuk-do, was attended by Pierre-André de Chalendar, chairman and CEO of the Compagnie de Saint-Gobain, Min Keh-sik, chairman of Hyundai Heavy, and 250 government officials and business people.
Saint-Gobain, a leader in the habitat and construction markets, and Hyundai Heavy, a leading green energy provider, each invested KRW 110 billion won for Hyundai-Avancis, bringing the total investment for the joint venture to KRW 220 billion (US $200 million). Hyundai-Avancis plans to complete the high-efficiency PV module plant by January 2012 and start production from the second half of the same year.
Starting with the construction of the first 100 MW CIGS solar module plant, using the technology of Avancis, a fully owned subsidiary of Saint-Gobain, Hyundai-Avancis may expand the annual production capacity to 400 MW by 2015 after considering market conditions.
Hyundai Heavy, Korea’s biggest solar cell manufacturer with a 600 MW solar cell and solar module factory at Eumseong, Chungcheongbuk-do, says it is the only Korean company with a complete solar power production chain. The new solar plant will also make Hyundai Heavy a manufacturer of a full range of solar power products such as polysilicon, ingot/wafer, solar cells, solar modules, and solar power systems. The Company aims to be a Global Top 5 CIGS solar module manufacturer by 2015.
With over 190,000 employees in 64 countries, Saint-Gobain designs, manufactures, and distributes building materials, providing innovative solutions to meet growing demand in emerging and mature countries, for energy efficiency and environmental protection. In addition to its first 20 MW facility in Torgau (Germany), the Group is currently building a second Avancis plant on the same site, with a future annual output of 100 MW, to begin operations at the end of 2011.
Birds Eye View of Hyundai Avancis CIGS Solar Module Plant
