SoloPower starts work on 155-MW CIGS module plant in S Korea - report

Oct 4, 2013 - The South Korean arm of US thin-film solar firm SoloPower Inc has started construction of a 155-MW factory for copper indium gallium (di)selenide (CIGS) solar modules, the South Korea Herald said today, citing company officials.

The production facility will be situated in a foreign-invested zone in Gwangju city, in the southern part of the country. Building works were initiated earlier this week, the daily said, quoting SoloPower Korea’s CEO Song Dong-jeong.

US SoloPower, which owns the South Korean firm jointly with local CTI Co, has poured USD 250 million (EUR 184m) in the project.

The factory will kick off operations in 2014, SoloPower Korea’s head was quoted as saying.

In the US, SoloPower in July said it and its main secured creditors had arrived at an agreement in principle on a comprehensive restructuring plan. The company has been trying to survive for months by selling redundant assets and cutting US jobs.

(USD 1.0 = EUR 0.734)

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