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The Week in Germany: Business, Technology and the Environment

August 24, 2007

Booming German Solar Industry Attracts American Investors

According to recent media reports, US chipmaking giant Intel is likely to invest in Germany's booming solar energy sector.

A recent report in Munich-based daily Süddeutsche Zeitung cited a predicted wave of consolidation in Germany's solar sector over the next two to three years. And according to financial news agency dpa-AFX American leader Intel is looking into its options in Germany, although nothing has been formally announced yet.

South Korea's Samsung is also reportedly considering acquisitions in the industry. Chipmakers and solar power companies both use silicon as raw material in their manufacturing.

Meanwhile Europe's most profitable solar producer, Hamburg-based Conergy, has done even better than industry analysts predicted in the second quarter of 2007. The company's gross profit climbed from 158.7 million to 244.9 million euros, with a concurrent net profit climb from 5.02 million to 6.06 million euros. Conergy is a global leader in renewable energies and is already represented on five continents, including facilities in Santa Fe, Albuquerque and Denver in the United States.

Moreover, as recently reported by insidegreentech.com, German solar manufacturer SolarWorld said last March that it would begin operating a large facility in Hillsboro, Oregon, saying it would be the biggest solar plant in North America.

"The location of the new plant is near Intel's main factory in the US … SolarWorld bought the plant for $40 million. The German company plans to establish silicon wafer and cell production at the site, reaching a capacity of 500 megawatts by 2009," greentech.com reported.

Part of the southeastern German "Solar Saxony" phenomenon, SolarWorld operates one of the world's most advanced integrated solar production facilities in Freiberg, Saxony. The SolarWorld Group is among the three largest solar power companies in the world. It operates production facilities in Freiberg, Gelsenkirchen, Sweden and the United States, where it is the leading producer and provider of solar power technology.

Links:

Invest in Germany

Germany Surges Past Goals for Renewable Energy Use – Renewables Drive Economic Growth in Rural Areas (TWIG, August 10, 2007)

Professor Sunshine Returns Home (TWIG, August 3, 2007)

Freiburg: Germany's Greenest City (TWIG, July 27, 2007)

Silicon Saxony (TWIG, July 20, 2007)

A Huge Success: Federal Environment Minister Presents Progress Report on Renewable Energy Sources Act (TWIG, July 13, 2007)

Cloudy Germany a Powerhouse in Solar Energy (TWIG, May 11, 2007)

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