Sharp Corporation, the consumer-electronics manufacturer based in Japan, is setting up a joint venture with Enel Green Power (EGP), the utility company based in Italy, and STMicroelectronics, the Franco-Italian chip-maker, to make triple-junction thin-film photovoltaic panels in Catania, Italy, by March 2010.
According to Sharp Corporation, the joint venture is an attempt to take further advantage of the great potential of renewable sources of energy.
It has been planned to begin making solar cells in early 2011 at the existing facility of STMicroelectronics in Sicily, in Italy, with an initial production capacity of 160 megawatts of electricity a year. The capacity is to be increased later to 480 megawatts a year.
Sharp Corporation and Enel Green Power also plan to establish another joint venture to produce electricity using the solar panels made by the 3-way, solar panel-producing joint venture.
The joint venture of Sharp and Enel Green Power will set up solar-power plants with a total capacity of over 500 megawatts by the end of 2016, Sharp Corporation said.
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