Solar

Hyundai Wins US $40M Solar Module Contract

Hyundai Heavy Industries Co. has won a US $40 million deal to provide solar modules to a German company. The deal with MHH Solartechnik calls on Hyundai Heavy to deliver the modules by the end of next year, the company said.

The shipbuilder completed construction of its first solar-cell plant, which is capable of producing 30 megawatts (MW) of solar modules annually, and expects a second factory to start in 2010 with an expected annual capacity of 330 MW.

In March of this year, Hyundai Heavy also agreed to produce polysilicon, which is used to make solar cells, in a venture with KCC Corp., South Korea’s largest manufacturer of construction materials.