Business | General
Masdar opens photovoltaic plant in Germany
Less than three months after announcing a strategic investment into thin-film photovoltaics (PV), Masdar, the Abu Dhabi renewable energy company, yesterday broke ground on its first photovoltaic production plant in Ichtershausen, Germany.
- Staff Report
- Published: 23:42 August 21, 2008
Dubai: Less than three months after announcing a strategic investment into thin-film photovoltaics (PV), Masdar, the Abu Dhabi renewable energy company, yesterday broke ground on its first photovoltaic production plant in Ichtershausen, Germany.
The plant will use advanced production technologies to bring PV closer towards grid parity, and enhance a local economy with a rich history of manufacturing and technology.
The $230 million German plant marks the first phase of Masdar's $2 billion investment in thin-film PV manufacturing, one of the largest investments ever made in solar power. To be opened in the third quarter of 2009, the plant has a targeted annual production capacity of 70MW, and will create more than 180 jobs.
It will produce the world's largest (5.7 square metre) and most powerful PV modules, on equipment from the world's leading supplier Applied Materials, to drive the cost reductions necessary to make solar energy affordable.
Masdar PV represents a significant advancement of German-UAE trade relations, particularly as it addresses a new area of cooperation in providing clean and sustainable energy solutions for both countries.
Trade ties
The UAE is one of Germany's major trading partners in the Gulf region with non-oil trade, currently worth nearly $7 billion.
In addition, it furthers Masdar's existing investment and research ties with German companies and organisations, including Siemens, RWTH Aachen University and the German Aerospace Centre.
"Abu Dhabi's geography and our vision to become a world leader in renewable energy, makes thin-film PV a natural area of focus for Masdar," said Dr Sultan Al Jaber, CEO of Masdar.
"Germany, with its technology, highly-skilled workforce, attractive investment climate, and direct access to the European market, make it an ideal partner for Masdar."
"It is especially satisfying to be working together in bringing the world one step closer to a future of clean energy," Al Jaber added.
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