Solarworld forms joint venture for solar module recycling
Sep 7, 2011 - German photovoltaic (PV) group Solarworld (ETR:SWV) announced it established today the joint venture Solarcycle GmbH, which will recycle solar modules and produce metal products and other materials.
The total amount invested in the venture in which Solarworld owns 24% stake, is EUR 12.7 million (USD 17.8m).
One of the other partners in the newly established firm is Preiss-Daimler Chemical Park, Solarworld said.
The plant will recycle 30,000 tons of material annually and will be situated at the Bitterfeld-Wolfen Chemical Park in the German state of Sachsen-Anhalt.
The construction of plant will be on two phases, the first of which is to begin in the autumn of 2011 and is to be finished by the end of 2012.