Mitsubishi To Boost Photovoltaic Production to 500MW

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (President and CEO: Setsuhiro Shimomura) announced today that it will invest a total of some 7 billion yen to expand annual production capacity of photovoltaic (PV) cells, at its Nakatsugawa Works Iida Factory (Nagano Prefecture), and modules, at its Nakatsugawa Works Kyoto Factory (Kyoto Prefecture), in response to a sharp increase in demand for solar power generation systems. This investment will expand Mitsubishi Electric’s annual PV production capacity from 150MW to 220MW in October 2008. Looking to the future, the company aims to establish a production system with an annual capacity of 500MW by fiscal 2013 (April 1, 2012-March 31, 2013).