ST, Sharp and Enel invest €150million in photovoltaic panel factory
Three electronics giants have joined forces for a project to start operations for the integrated production of innovative photovoltaic cells and panels.
STMicroelectronics, Sharp and Enel Green Power have signed a binding letter of commitment for the 3Sun project and a financing agreement for €150million to develop the Catania based plant.
Each partner has underwritten one third of the equity - with a commitment of €70million in cash or in tangible and intangible assets.
The project will combine Enel's renewable energy and project management specialism with Sharp's triple junction thin film technology and ST's microelectronics technology.
The factory's yearly output is expected to reach 480MW and panel production at the Catania plant is scheduled to begin in the second half of 2011.
Factory output will deliver to solar markets in Europe, the Middle East and Africa.
