Hyundai Heavy Industries (HHI) plans to invest 300 billion won in the expansion of its solar module and solar cell production line by 2009.

The company completed installation of its solar module and solar cell production line in its Eumseong factory. HHI has invested 34 billion won in the factory since February of 2007.

The factory, which covers 18,360m2, is capable of producing 100 billion Won worth of 30MW-class solar products per year.

The additional investment will increase the factory’s capacity to 330MW by 2009. The company is currently enlarging the production capacity of the factory to 60MW and will build a second factory with a 270MW production capacity. 

“We have organized leading researchers and provided them with the latest facilities in this factory to produce continued research and development in photovoltaics and the production of solar cells and solar modules. Our goal is to make Hyundai Heavy Industries the center of the international photovoltaic industry,” said Mr. Min Keh-sik, vice chairman and CEO of Hyundai Heavy Industries.

The demand for solar power has been increasing rapidlly, making HHI's solar power systems an important source of revenue.

The company will also manage a joint venture company with KCC that will produce 2,500 tons of polysilicon annually, the raw material used to make solar cells and modules.