Japan's Kaneka plans $1.1 bln solar captital expansion (new 200 MW/year plant)

[jpak]

http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUST26351220081221

TOKYO, Dec 21 (Reuters) - Japan's Kaneka Corp (4118.T) plans to spend more than $1.1 billion by 2015 to boost its solar cell production capacity 14-fold to meet growing demand, the Nikkei business daily said on Sunday.

As part of the expansion plan, the chemicals maker will build a $224-million solar cell plant in Europe by 2011, the newspaper said.

Demand for solar cells, which convert solar energy into electricity, is expanding rapidly due to concerns over climate change.

The new plant, which makes thin-film solar cells, will have an annual production capacity of 200,000 kilowatts, the paper said.

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