Mitsubishi to boost solar cell production

Tokyo's Mitsubishi Electric (OTC: MIELY) announced plans for another expansion of its photovoltaic solar cell production today, saying it will quadruple its annual capacity from 150 megawatts to 600 MW by fiscal 2012, citing a sharp increase in demand for solar power systems.

The company previously said in March that it would raise its capacity to 500 MW by fiscal 2013 (see Mitsubishi to invest $70.7M to expand PV capacity).

Mitsubishi forecasts a global photovoltaic market size of 1,950 MW in fiscal 2009, growing to 4,430 MW in fiscal 2012.

The company plans to construct a new building at its Nakatsugawa Works Iida Factory in Nagano prefecture to handle the extra production. The cost of the latest expansion was not disclosed, but back in March, Mitsubishi said it would invest $70.7 million in the then smaller project.

Mitsubishi opened its photovoltaic plant in Nagano in 1998. The new building, with 24,000 square meters of floor space, is expected to be complete in December 2009. The company plans install photovoltaic systems on the roof of the building, which it said will reduce carbon dioxide emissions from the PV cell production.

Mitsubishi also announced plans today to start shipping small-size PV modules for off-grid areas where the local electrification infrastructure is insufficient or non-existent. The company said it will ship four of the units for the overseas market beginning on Oct. 1.

The modules, ranging from 35 watts to 52 W, are suitable for use in small houses, according to Mitsubishi.

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