The founder of Helios Technology has bought two cell production lines from the company for his new firm Megacell.
Franco Traverso has paid €3 million (US$4 million) as part of a €10 million (US$13.5 million) investment to establish bifacial cell production in Italy.
It is hoped the new facility in Padua will begin operation before the end of the year and will reach a capacity of 80MW by January 2015.
Traverso claimed that Megacell would be the first large-scale bifacial cell manufacturer worldwide with cells in excess of 20% efficiency.
“It's the news that the PV industry has been waiting for and which results in an increase in the energy production of PV plants and greater durability of the modules, over 50 years. In light of these results are expected to orders that exceed the production capacity,” said Traverso.
Lux Research has tipped bifacial technology to be one of the most important factors in futrue PV cost reductions.