Mitsubishi to quadruple PV by 2012

TOKYO, JAPAN, September 4, 2008. Mitsubishi Electric Corporation plans to quadruple its annual photovoltaic (PV) cell production to 600 MW by 2012, investing ¥50 billion.

Mitsubishi says it plans to construct a new building for PV cell production, the PV Cell Plant #2, at its Nakatsugawa Works Iida Factory in Nagano Prefecture.

The expansion comes as a response to “a sharp increase in demand” for solar power generation systems.

The company forecasts a global PV market size of 1,950 MW in 2009 growing to 4,430 MW in 2012, with further growth expected.

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