SolarWorld AG continues group-wide course of expansion
Freiberg wafer production to double capacity to 500 MW
SolarWorld AG will consistently continue its group-wide course of expansion after the integration of the crystalline solar activities of the Shell Group. Against the background of the strong international expansion of the group business the solar technology group will now further expand its capacity for the production of modern and highly efficient solar silicon wafers at the Freiberg location from the current 250 Megawatt (MW) within the next 28 months to 500 MW. 50 per cent of this volume has already been sold until 2018 by way of long-term supply contracts with the international solar cell industry. The other half will go into the group?s internal value creation process. The solar silicon needed for the production of the 500 MW of solar wafers is secured by way of long-term delivery agreements with leading international silicon producers, the establishment of its own silicon factories and its Freiberg recycling facility.
SolarWorld AG raises more than 300 million dollars from international investors
SolarWorld AG will finance new investments without touching its comfortable equity capital base. The company has managed to raise a total of 306.5 million dollars worth of borrowed capital from major investors in the United States and Europe. These investors will make the capital available to the group for periods between seven and twelve years at very competitive conditions. With this financing round the group has gained new access to highly liquid capital markets in the USA and, in doing so, extends its financing leeway irrespective of the banks.