SANYO & Nippon Oil Establish Thin-film Solar Cell Joint Company
SANYO Electric Co., Ltd. and Nippon Oil Corp. announced that they have decided to launch a joint company for the production and sale of thin-film solar panels, to be named SANYO ENEOS Solar Co., Ltd.
For this joint project, SANYO will draw on its solar cell technologies, based on the technology acquired through the development of the HIT Solar Cell, which the company claims is capable of the world’s highest conversion efficiency, as well as its extensive research performed over the last thirty years related to thin-film solar cell technologies. Nippon Oil Corp. will utilize its raw materials technologies, such as petroleum production, acquired through petroleum processing and chemicals manufacturing, and the strong relationships it has established with oil-producing countries in the Middle East etc. which are expected to become major markets for photovoltaic systems in the future. Thus, it is claimed that the new joint company will integrate the strengths of the two companies and work with the aim of becoming a global leading company in the production of thin-film solar modules, accelerating the commercialization of high-performance, reliable thin-film solar systems, a market segment the companies expect to rapidly grow in the future.
The new joint company will start production and sales at an initial scale of 80MW in Fiscal Year 2010 and gradually increase its production capacity while reviewing and considering the market needs. The goals for the future scope of business are 1GW for annual global production and sales by FY2015 and around 2GW for the annual global production and sales of thin-film solar by FY2020.