The plant is expected to use advanced production technologies to bring photovoltaics (PV) closer towards grid parity, and enhance a local economy with a history of manufacturing and technology.
The $230 million plant marks the first phase of Masdar’s $2 billion investment in thin-film PV manufacturing. To be opened in the third quarter of 2009, the plant has a targeted annual production capacity of 70MW, and will create more than 180 jobs.
Sultan Al Jaber, CEO of Masdar, said: Abu Dhabi’s geography and our vision to become a world leader in renewable energy, makes thin-film PV a natural area of focus for Masdar. Germany, with its technology, highly-skilled workforce, attractive investment climate, and direct access to the European market, make it an ideal partner for Masdar.
