Prenzlau, Germany [RenewableEnergyWorld.com] aleo solar AG has signed a joint venture agreement with Sunvim Group Co. Ltd. for the construction of a solar module production plant in Gaomi in China’s Shandong province. The module production plant is on schedule to be completed by the end of 2009.
aleo solar will be responsible for providing the solar cells for the plant, which will initially have a capacity of 50 megawatts (MW). The solar modules will be sold exclusively through aleo solar.
The plant is part of aleo’s plan to meet the growing demand for solar modules in the growth markets of Asia, which the company estimates at a market volume of at least EUR 8 billion [US $12 billion] in South Korea, Japan and China by the year 2012.