Munich, June 15, 2011, Samsung announced on a press conference at Intersolar Europe 2011 that it will transfer the solar business from Samsung Electronics to Samsung SDI in order to unify energy business and create synergies, and it plans to invest 5.5 billion US dollars in solar technology development and production by 2020.
Samsung presented its vision of eco-friendly and energy solution company during the press conference. The expansion in the rechargeable battery and solar module industries enables Samsung to create a new energy business area focusing on energy generation and storage.
This is concrete outcome of Samsung's green management strategy to transform itself into a top green enterprise on a global scale.
Samsung believes that solar energy will play a vital role in the next generation of renewable energy throughout the 21st century and began its work on crystalline materials and thin film technology as early as 1987.
In January 2008, it embarked on strategic research and development in the field of silicon-based photovoltaic. The solar energy business team was formed in early 2009 to go forward with solar cell commercialization.
The first full scale R&D line with a capacity of 35 megawatts was set up in September 2009. The latest product line boasts a yearly capacity of 130 megawatts, aiming for a production capacity of 3 gigawatts by 2015 and 10 gigawatts by 2020.
Source: Samsung Electronics Co., Ltd.