LG Ramps Up Solar Panel Production
Electronics giant is going green with six more solar panel production lines planned
LG is embarking on a major $435 million (£301m) expansion of its solar panel production facility in the city of Gumi.
The investment will see the addition of six new production lines to the eight currently in place, helping LG to increasing capacity from 1GW to 1.8GW by 2018.
The company is hoping to further increase this to 3GW, which LG says is equivalent to the electrical power consumed by one million households, by 2020.
Light ’em up
“As a result of this investment, LG’s solar power business will be in a much stronger position to be a dynamic engine for growth moving forward,” said Lee Sang-bong, LG president and head of its Energy Business Centre and B2B Office.
“LG has been actively involved in the solar energy business for two decades and we believe that mainstream consumers are more than ready to give solar more serious consideration.”
The announcement is the latest from a major technology giant concerning solar production as companies look for a greener way to power their industry.
Back in October, Apple pledged to build 200 megawatts of solar energy projects in China as part of a bid to avoid over 20 million metric tons of greenhouse gas pollution in the country between now and 2020 – the equivalent of taking nearly four million passenger cars off the road for one year.
Cisco has also recently shown its support for solar energy, committing back in June to begin buying energy from a 20-megawatt solar power facility that will be located on 153 acres in the Sonoran Desert near the border between Arizona and California.
Officials at the company say that the move will help Cisco hit its goal of having at least 25 percent of its electricity come from renewable sources by 2017.
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