Tokyo, Japan [RenewableEnergyWorld.com] Mitsubishi Electric Corporation announced its plans to construct a new facility for solar photovoltaic (PV) cell production at its Nakatsugawa Works Iida Factory in Nagano Prefecture. The company said that it is expanding its annual production capacity of PV cells in response to a sharp increase in demand for solar power generation systems.
The plant, known as PV Cell Plant #2, will have a total floor space of 24,000 square meters. The scheduled completion date is December of 2009 and the plant will be powered in part by PV systems that Mitsubishi plans to install on the roof of the building. Mitsubishi Electric opened its first PV plant at the Nakatsugawa Works Iida Factory in 1998.
Mitsubishi Electric said that it also intends to accelerate its capital investment plan by one year, and invest a total of ¥50 billion [US $456.74 million] to quadruple its annual PV production capacity from 150 megawatts (present) to 600 megawatts by fiscal year 2012. The company’s previous plan announced March 19, 2008 was to increase its capacity to 500 MW by fiscal 2013.