Korea's LG Electronics (LGERF.PK) has begun producing its first solar panels.
Germany's Centrotherm Photovoltaics AG (CTN.DE) announced the completion of a ramp-up process for two turn-key photovoltaic lines it built for LG in South Korea.
The companies did not announce the production capacity of the lines, but one is dedicated to mono-crystalline photovoltaics and the other for multi-crystalline solar cells.
"With the first two lines, we have succeeded in entering mass solar cell production within the shortest possible time span," commented Mr. Cho, Vice President at LG Electronics. "The aim is to rapidly expand capacity further in order to participate in the sector's growth, and to develop into one of the leading solar cells suppliers."
In the future, centrotherm photovoltaics will manage its customer relationship with LG Electronics from its Korean branch that was established in the autumn of 2009.
Centrotherm employs around 1,100 staff members, and operates in Europe, Asia and the USA.
In April, LG Group announced plans to invest 20 trillion won (US $17.9 billion) over the next decade to reduce its emissions by 40% and develop environmentally-friendly businesses, such as solar modules.
