Sharp says to move forward ($729 million, 1 GW/year) solar cell plant launch (Japan)

[jpak]

http://uk.reuters.com/article/oilRpt/idUKT1166220090107

Japan's Sharp Corp (6753.T) said on Wednesday it would bring forward the start of a new domestic solar cell plant to the end of this year to meet growing demand worldwide for green energy sources to counter global warming.

Helped by investors' recent buying spree in shares perceived as environmentally friendly, Sharp's stock has gained 29 percent since Monday, when the Sankei newspaper initially reported the move.

Solar companies around the world are expanding production capacity rapidly as demand grows.

In Japan, the government will bring back subsidies for solar panel equipment from this month, while in the United States, President-elect Barack Obama has pledged to invest $150 billion over the next decade to build an energy economy that relies on renewable sources such as wind and solar power.

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