Hyundai Heavy wins US$40 mln deal for solar modules

SEOUL, Oct. 29 (Yonhap) -- Hyundai Heavy Industries Co., the world's largest
shipyard, said Wednesday that it has won a US$40 million deal to provide solar
modules to a German company.
The deal with MHH Solartechnik calls on Hyundai Heavy to deliver the modules by
the end of next year, Hyundai Heavy said.
Hyundai Heavy is expanding into the alternative energy sector as part of efforts
to diversify its business portfolio.
The shipbuilder completed construction of its first solar-cell plant, which
generates 30 megawatts of power annually, and expects a second factory to start
in 2010 with an expected annual capacity of 330 megawatts.
In March of this year, Hyundai Heavy also agreed to produce polysilicon, which is
used to make solar cells, in a venture with KCC Corp., South Korea's largest
manufacturer of construction materials.
Hyundai Heavy predicts sales from solar-cells to reach about 1 trillion won in 2010
Shares of Hyundai Heavy were trading at 158,500 won on the Seoul bourse as of
11:20 a.m., up 14.56 percent.