Solar Power Cells, Hot Water, Energy, Collectors

The Rise of Korea's Solar Ambition

01.01.70

The rival is Korea, and its keen interest in becoming a big solar manufacturing hub could give rise to a competitive landscape that is familiar to those in the semiconductor and consumer electronic businesses. Korean conglomerates such as Samsung and LG have long fought for market supremacy in areas such as chips, LCD panels and mobile phones.

The same intense competition could take place in the emerging solar market. Samsung and LG already are making solar panels, though not at the scale of some of their Asian competitors who also happen to be among the top 10 manufacturers worldwide. Just last week, a Silicon Valley startup, Stion,  said it was getting a $130 million equity investment led by a group of Korean companies. The round, incidentally, also included those from Stion’s existing investors such as Taiwan Semiconductor Manufacturing Co.  

As part of the funding agreement, Stion said it will build a factory in Korea and invest $35 million into the new operation. The startup, founded in 2006, also plans to develop production equipment with AVACO , one of the lead investors of the new round and a seller of factory equipment for making LCD panels. Stion’s technology involves depositing a compound of copper, indium, gallium and selenium (CIGS) on glass.

Source: RenewableEnergyWorld.com