Stuttgart, Germany [RenewableEnergyWorld.com] The Bosch Group has revealed plans to invest some €530 million [US $741.67 million] through to 2012 in expanding solar module production through its majority held subsidiary arm ersol Solar Energy AG. Construction is scheduled to start this month on a large manufacturing facility for crystalline solar cells in Arnstadt, Germany as well as a module manufacturing shop and a new administrative building. Expansion of existing research and manufacturing facilities is also planned.
Start of production at the facility is planned for the beginning of 2010 and ersol hopes to nearly triple its present manufacturing capacity in the crystalline field to a nominal capacity of some 630 megawatts (MW).
The plan, which was proposed by ersol management, is expected to create more than 1100 new jobs. Applications have been made for subsidies totaling close to a tenth of the total investment, which have to be approved by the European Commission. A decision on this is expected in spring.
“This investment underscores our strategic objective of strongly expanding our activities in the area of renewable energies over the next few years,” said Dr. Siegfried Dais, deputy chairman of Bosch.