Samsung shuffles solar business into another subsidiary

Latest

Facebook
Twitter
LinkedIn
Reddit
Email

The nascent solar arm of electronics giant, Samsung has been shuffled into subsidiary, Samsung SDI, known originally for flat panel display manufacturing but more recently for lithium ion battery manufacturing. Samsung said that the transaction, valued at approximately US$148 million was to ‘manage the company’s resources more efficiently and focus more on its key businesses.’Samsung SDI will take over the solar cell business on July 1, 2011.

Samsung said in a separate announcement a few days ago that it would be holding a press conference at major solar event, Intersolar in Munich next month to discuss its expanding commitment to the PV industry and present new PV modules. This is the first time Samsung is officially holding a press event in relation to its PV business. Samsung said that its plans to invest US$5.5 billion in its PV business through to 2020 was is part of the long-term ‘Green Management Plan’ of the company

Last year at the same event, PV-Tech obtained an exclusive interview with Changsik Choi, the Executive Vice President of Samsung Electronics, Solar Energy Business Team. Then the focus was on manufacturing high-efficiency solar cells but the company is now selling modules and moving to become a fully integrated supplier from polysilicon through to module and on through to project developer for utility-scale PV power plants. 

Read Next

Subscribe to Newsletter

Most Read

Upcoming Events