Showa Shell To Open First European Office In Munich

Published: 08-Mar-2010

Showa Shell Solar, a Japan-based company engaged in the production of copper-indium-selenium (CIS) photovoltaic modules, has revealed its plan to open its first European office in Munich in 2010. The company has also changed its name to Solar Frontier. Germany Trade & Invest supported the company with its investment plans.

Aiming to ramp up production to reach a sales goal of 1 million kilowatts worldwide in 2012, the Munich office, alongside a new American counterpart in California, will play an integral role in achieving this mark, according to the company. The company's production figures are expected to increase by more than ten times its current level, strengthened by an additional plant that will begin production in mid-2011.

Solar Frontier CEO Shigeaki Kameda: "The German priority on both economic and ecological criteria precisely matches Solar Frontier's top design and production mandates. Germany is also the world's largest market, so we have three very critical reasons to invest here: the German priority on economy, the German priority on ecology, and the German market size. We therefore expect to fulfill very strong demand."

The company said that its decision to invest in Germany also serves it well for access to growing photovoltaic markets across Europe. Germany is home to approximately half the solar modules in operation worldwide, based on recent industry estimates. This market continues to grow as 2009 installations exceeded expectations, likely surpassing 3GW.

Solar Frontier manufactures proprietary thin-film modules that substitute silicon with the key ingredients copper, indium, and selenium. The thin-film modules are expected to reach a 14.2% efficiency level by 2011. Solar Frontier was assisted by Germany Trade & Invest and Invest in Bavaria.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities to the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

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