MUNICH, Germany -- Qimonda AG, a manufacturer of memory products, and Centrosolar Group AG, a German solar company, signed a contract to jointly build, equip and operate a solar cell manufacturing plant.
The joint venture will produce solar cells based on silicon and will be owned 49 percent by Centrosolar and 51 percent by Qimonda Solar GmbH, a 100 percent subsidiary of Qimonda AG.
In the planned cooperation, Qimonda will contribute its existing know-how in silicon-based mass production as well as important access to silicon supply. Centrosolar will contribute its expertise with solar systems and the sales and distribution of solar modules.
The venture company which will be located on Qimonda's existing site in Vila do Conde, Portugal is planned to initially invest Euro 70 million by September 2009.
Subject to approval by the relevant authorities, the commencement of fab construction at Qimonda's site in Vila do Conde, Portugal is scheduled for mid 2008. The facility is scheduled to be ready for equipment early in 2009 and to start production in the second half of 2009.
The new facility is planned to have an initial capacity of up to 30 million solar cells per year (equivalent to about 100 MegaWatt peak) and employ approximately 150 employees.
In addition, a silicon supply agreement with LDK Solar Co., Ltd., Xinyu City, China, has been concluded.