Hyundai Heavy Industries aims to hit 1 GW by 2012

Mr. Kim Kweon-tae, chief operating officer of Hyundai Heavy’s Electro Electric Systems Division commented: “We already had enough orders for this year and we are now receiving orders for next year. Our target is to be global top 10 with annual sales of 2 trillion won and annual production capacity of 1GW by 2012.”

In a statement issued, the company also said: “This year, Hyundai Heavy targets to be the first Korean solar power company with an integrated solar power production system by having an annual production capacity of 100 megawatts (MW) ingot/wafer as well. With the integrated solar power production system, Hyundai Heavy can manufacture a full range of solar power products such as polysilicon, ingot/wafer, solar cell, solar module and solar power system.”

The news comes on the back of the company’s announcement that it is to double its annual solar module and solar cell production capacity from 320 MW to 600 MW by early next year.

The company has said this growth is due to an increased demand from European countries, including Germany, Italy and the Czech Republic, “where suppliers cannot meet the demand”.

In order to grow its capacity, the company plans to complete the expansion of its solar power factory in Eumseong, north Choong-cheong province by early next year and start full-scale production from the second quarter.