Japanese electronics giant Sanyo plans to spend Ft 1 billion to double capacity at its solar cell plant in Dorog, north of Budapest, from 50 MW to 100 MW a year, making it the biggest producer of photovoltaic cells in the world, business daily Világgazdaság reported on Wednesday.
Péter Kalocsai, one of the plant's department heads, said Sanyo is counting on increased sales in markets other than Germany, Spain, Italy and the Scandinavian countries where most of the cells have been sold. This will depend, however, on governments' incentives to use renewable energy, he said.
Sanyo set up its solar cell plant in Hungary in 2004 at a cost of Ft 2.7 billion. The plant's current capacity is 240,000 solar cells a year.
Sanyo Hungary had revenue of Ft 94 billion in 2005, with the solar cell segment generating Ft 23 billion. In 2006, Sanyo Hungary targets revenue of Ft 40 billion from the segment.