LG to Triple Solar Panel Production by 2020

January 13th, 2016

Disclosure: I sell solar power systems in NZ.

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Via: LG PR:

LG Electronics (LG) today announced plans to significantly expand its solar energy solution business with a multimillion dollar investment to expand its solar panel manufacturing capabilities in South Korea.

LG entered into a memorandum of understanding with the Korean city of Gumi to invest USD 435 million (KRW 527.2 billion) to expand the company’s solar cell manufacturing facilities in the city. The addition of six production lines to the current eight will increase capacity from 1GW to 1.8GW by 2018 and 3GW — equivalent to the electrical power consumed by one million households — by 2020.

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