Schott Solar opens plant despite downturn

[BlueJessamine]

Source: CNET News

Schott Solar on Monday dedicated a $100 million solar manufacturing plant in Albuquerque, New Mexico, although an industry downturn has kept its growth plans in check.

The Germany-based company picked New Mexico to be the hub of its U.S. operations because the U.S. solar business is poised to grow significantly in the coming years, said Gerald Fine, the president and CEO of Schott North America.

It will manufacture solar panels aimed at businesses and consumers as well as solar concentrator receivers, a piece of equipment for utility-scale solar thermal installations. The receivers circulate a fluid, heated up by mirrored troughs, which is converted into steam to make electricity.

The near-term outlook for solar concentrating systems at solar power plants in the southwest is strong, Fine said. But prices for solar panels, typically fitted onto rooftops, are falling across the industry. Subsidies in Germany and Spain--the two largest solar marketplaces--are being scaled back and there is now more silicon available to make solar cells. Both factors are contributing to less business for solar manufacturers and lower prices.

Schott has committed to making a total of $500 million in investments in the U.S., but the timing for its follow-on investments is still not firm, Fine said.

Read more: http://news.cnet.com/8301-11128_3-10237445-54.html

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This is great news. By the end of the year Schott Solar will employ about 50 new employees.

[Hugin]

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