SolarWorld AG to Double Wafer Production Capacity

SolarWorld AG will expand its capacity to produce efficient solar silicon wafers at the Freiberg, Germany, location from the current 250 megawatt (MW) to 500 MW within the next 28 months.

Fifty percent of this volume has already been sold until 2018 through long-term supply contracts with the international solar cell industry; the other half will go into the group’s internal value creation process. The solar silicon needed for the production of the 500 MW of solar wafers is secured with long-term delivery agreements with leading international silicon producers, the establishment of its own silicon factories and its Freiberg recycling facility. SolarWorld AG, which will continue its expansion after the integration of the crystalline solar activities of the Shell Group, will finance new investments without dipping into equity capital base. The company has raised 306.5 million dollars borrowed capital from investors in the U.S. and Europe.

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