Sharp, Enel Green Power, and STMicroelectronics make Joint Announcement on the Establishment of Joint Ventures for Production of Thin-Film Solar Cells, and for IPP Business
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Sharp, Enel Green Power, and STMicroelectronics make Joint Announcement on the Establishment of Joint Ventures for Production of Thin-Film Solar Cells, and for IPP Business - JCN Newswire
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Sharp, Enel Green Power, and STMicroelectronics make Joint Announcement on the Establishment of Joint Ventures for Production of Thin-Film Solar Cells, and for IPP Business

Osaka, Jan 21, 2010 - (JCN Newswire) - On January 20, Sharp Corporation (hereinafter "Sharp"), Enel Green Power (hereinafter "EGP"), and STMicroelectronics (hereinafter "STM") made a joint announcement in Rome, Italy, on the establishment of a joint venture for production of thin-film solar cells(1) and one for IPP business(2), mainly in Europe.

On January 4, the joint venture agreement was signed by the three partner companies. Today, Katsuhiko Machida, chairman and CEO of Sharp, Mr. Fulvio Conti, CEO of Enel, and Mr. Carlo Bozotti, President and CEO of STMicroelectronics made an announcement to government officials, industry members, and journalists concerning the details of these joint ventures.

In the joint venture of the three companies, Sharp will provide technical assistance in the starting of the initial operation, the introduction of production processes, and technical support in the plant. In the joint venture for IPP business to be established with EGP, Sharp will utilize the leading edge thin-film solar cell technology.

The significance of IPP business is increasing in the environment and energy policies of European countries. With its technology and production know-how, Sharp will continue to support these joint venture projects.

Prior to the joint announcement, Katsuhiko Machida was awarded the International Leonardo Prize 2009(3) by President Giorgio Napolitano of the Italian Republic. This award commends the innovative business model of solar power generation by Sharp, Enel, and EGP, and their contribution to the economy and technology fields of the Italy-Japan relationship.

Through collaboration with a power company, Sharp aims to become a total solution company in the photovoltaic field, initiating the world's first business model extending from thin-film solar cell production to IPP business.

(1) Joint Venture for the thin-film solar cell production: After the establishment of the joint venture company, Sharp, EGP and STM will start operation of a plant in Catania Province, Sicily Region, Italy, from beginning of 2011. The plant will start operation with initial annual production capacity of 160MW, which is scheduled to be expanded to an annual production capacity of 480MW in future. The three companies will equally make investment of up to 70 million euros each. The thin-film solar cells produced in the plant will be marketed through sales channels of Sharp and EGP, mainly in Europe and Mediterranean countries.

(2) Joint Venture for the IPP business: Sharp and EGP will establish joint venture company Solar Farm S.r.l (hereinafter "ESSF"), and will construct multiple power generation plants with total power generation capacity of more than 500MW by the end of December 2016. ESSF will initiate IPP business in Mediterranean countries including Italy, France and Spain, utilizing the thin-film solar cells produced in the Catania plant.

(3) International Leonardo Prize 2009: An international award to commend a contribution to strengthening the Italy-Japan relationship in the fields of economy, culture, and art. International Leonardo Prize 2009 is awarded by the Leonardo Committee.

About Sharp

Sharp Corporation (TSE: 6753) is a worldwide developer of innovative products and core technologies that play a key role in shaping the future of electronics. As a leader in liquid crystal displays (LCDs) and digital technologies, Sharp offers one of the broadest and most advanced lines of consumer electronics, information products and electronic components, while also creating new network businesses. For more information, please visit www.sharp.co.jp .

Contact:

Sharp Corporation
Corporate Communications
Osaka: +81-6-6625-3006 
Tokyo: +81-3-3260-1870
 


Jan 21, 2010
Source: Sharp

Sharp (TSE: 6753) (U.S: SHCAY)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Business Tieup
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