BERLIN and FRANKFURT (ODER), Germany, November 3, 2011 /PRNewswire/ --
Arizona-based First Solar, the world's largest producer of thin film solar modules, opened its new plant expansion in Germany today. The 200 million dollar investment effectively doubles First Solar's production capacity in Germany to 500 MW annually. Germany Trade & Invest provided its free of charge investor consulting services to assist the company's German market entry.
"This investment marks a vote of confidence for Germany's solar industry. Despite global economic turbulence, Germany's commitment to solar energy remains unwavering. This stability continues to draw international companies to the world's leading solar market," said Thomas Grigoleit, Director of Renewable Energies & Resources at Germany Trade & Invest in Berlin.
Germany boasts the largest installed photovoltaic capacity worldwide. Nearly half of all solar installations are located on German rooftops and fields. Photovoltaic energy in Germany recently made headlines for surpassing hydropower in total electricity generation.
Burghard von Westerholt, Managing Director of First Solar Manufacturing GmbH: "First Solar is the global cost leader and Germany's investment conditions help us to maintain our position as a market leader in this highly competitive industry. The well trained and dedicated workers in Germany allow us to further strengthen our position in this critical market."
Germany Trade & Invest recently published an overview of business opportunities in photovoltaics in Germany, available at http://www.gtai.com/pv/industry-overview.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
Germany Trade & Invest
T: +49(0)30 200099-173
F: +49(0)30 200099-511
SOURCE Germany Trade and Invest