Following EU Commission approval, the solar power JVs will be set up by the end of March 2010.
Sharp, EGP and STM will first establish a JV company for solar cell production and then start the production of thin-film solar cells from the beginning of 2011, by utilising the existing facility of STM in Catania Province, Sicily Region, Italy.
The thin-film solar cell plant will start operation with an initial annual production capacity of 160 MW, which is scheduled to be expanded to an annual production capacity of 480 MW in the future. The thin-film solar cells produced in this plant will be marketed mainly in Europe and the Mediterranean area through the sales networks of Sharp and EGP.
In addition to financing from the banks, this project will be funded by investments from each company of approximately €70 million each.
For the IPP business, Sharp and EGP will establish a JV company, ES Solar Farms S.r.l.( ESSF). The two companies will establish solar power generation plants with a total power generation capacity of more than 500 MW by the end of December 2016. ESSF will use the thin-film solar cells produced by the plant, and extend its power business to Mediterranean countries including Italy, France, Spain and Greece.
Overview of thin-film solar cell production JV:
- Company Location: Catania Province, Sicily Region, Italy
- Investment ratio: Sharp 33.3%, EGP 33.3%,STM 33.3%
- Location of the thin-film solar cell plant: Catania Province, Sicily Region, Italy
- Start of the operation: Beginning of 2011
- Production item: Thin-film solar cells
- Annual Production Capacity: 160MW (initial phase)
Overview of power generation business PV:
- Company Name: ES Solar Farms S.r.l.
- Location: Rome, Italy
- Investment ratio: EGP 50%, Sharp 40%, Sharp Electronics (Italia) S.p.A. 10%
- Location of the power generation plant: Mediterranean area including Italy, France, Spain and Greece
- Power generation capability: Total of more than 500 MW by the end of December 2016