Q-Cells Moving Into Mexico

Q-Cells AG has reached an agreement to build a production complex for thin-film photovoltaic (PV) modules in Mexicali, Mexico the state capital of Baja California, close to the U.S. border.

The agreement implies that Q-Cells will invest up to US $3.5 billion in the mid- to long-term, although the expansion plans are contingent upon the development of the PV markets in the US, Mexico and Latin America that will be supplied from Mexicali.

Agreements with the Mexican federal government, the government of the State of Baja California and Silicon Border Development, a developer of industrial parks for high-tech-companies, led to the announcement. Q-Cells said it expects to achieve a better access to the American growth markets and hedge against currency fluctuations as a result of the move.

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