Toshiba announces full-scale entry into (utility scale) solar power generation

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http://www.tradingmarkets.com/.site/news/Stock%20News/2107196/

Toshiba announces full-scale entry into solar power generation

Mon. January 05, 2009; Posted: 10:52 AM

TOKYO, Jan 05, 2009 … Toshiba Corp. on Monday announced its full-scale entry into the solar photovoltaic systems business, a key area deemed to have growth potential in the fight against global warming.

Toshiba, which established a new division on Thursday to manage and promote the business both at home and abroad, is aiming to increase sales in the business from several hundred million yen projected for fiscal 2008 through March 2009 to around 200 billion yen by fiscal 2015.

The use of solar photovoltaic systems is expanding among utilities and industrial plants. Toshiba said the market is expected to grow to 2.2 trillion yen in fiscal 2015 from 1.2 trillion yen at present.

Toshiba plans to combine its new lithium ion battery that boasts a long life cycle and safety with solar panels from other companies for the solar power generation system.

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