Leaders in their field, HKSilicon will invest €600m in the Silicio Energía project and will also contribute technology to it.
The Spanish region of Andalusia will provide the location for one of the world’s largest polysilicon factories, which will be built following negotiations between ISOFOTON President Ángel Luis Serrano and the South Korean company HKSilicon.
Leaders in their field, HKSilicon will invest €600m in the Silicio Energía project and will also contribute technology to it. The deal will allow Spain to join the small group of countries producing polysilicon, a vital raw material in the manufacture of photovoltaic panels.
Following the acquisition of Isofoton by Affirma and Top-Tec, majority shareholder Angel Luis Serrano was appointed President of Silicio Energía. In taking up the post he has committed himself to reviving the project for the construction of a polysilicon plant with a manufacturing capacity of 2,500 tons, to be located in Los Barrios, Cádiz. This ambitious project had previously been suspended due to the economic crisis.
Eight months on from taking control of Silicio Energía, Serrano has reached a provisional agreement with the South Korean company HKSilicon, a world leader in the production of polysilicon. The agreement sets out even more ambitious objectives for Silicio Energía than previously envisaged, with planned output being increased from 2,500 tons to 10,000. A total of €600m will initially be invested in the project, and over 1,000 jobs are expected to be created as a result.
The Regional Government of Andalusia’s Idea agency is playing a key role in the investment process and is working closely with Silicio Energía to attract similar investment as part of the regional government’s firm commitment to the photovoltaic industry.
The project will make the company the fifth-largest polysilicon manufacturer in the world. Polysilicon is the most important raw material in the manufacture of solar panels and the project is essential for the development of the Spanish solar panel industry as a whole. It will lead to increased specialisation, giving Spain the capacity to produce all components in the photovoltaic module manufacturing chain. With its abundant supply of solar energy – one of the reasons why the South Koreans have decided to make their investment – Spain, and Andalusia in particular, is the perfect location for this project, one that represents a ray of hope for the region’s unemployed.
ISOFOTON is a global company that is present in over 60 countries. ISOFOTON is a pioneering company that is leading the way in the design, manufacturing, and supply of Solar Energy Solutions, thus contributing to sustainable planet development. The company focuses its activity on three technological areas: Photovoltaic, Thermal, and High Concentration Photovoltaic.