Photovoltech is to build a new crystalline solar cell manufacturing plant in Tienen, Belgium, where its current production facility is located. Dutch engineering company DHV is to design and build the 26,500 m² facility, which will be divided into 3 floors and will have a 400MW capacity. The new facility will generate 100 new jobs.
The IMEC spin-off is set to double production in the next two years, from 140MW by end-2009 to 260MW by the end of 2010. With the new plant starting production in 2010, Photovoltech expects capacity to be more than 500MW per annum.
Photovoltech has also signed a new wafer supply contract with LDK Solar, which will supply 400MW of silicon wafers over a ten year contract.
The company reported revenue of €67 million in 2007, up more than 50 percent compared to 2006.