Solar innovator Innotech invests in Germany
The photovoltaic industry in Eastern Germany has received a furtherboost from Norwegian solar company ITS Innotech Solar. The company hasacquired land for a new investment in the Eastern German city of Halle,with plans to construct a factory to increase power of solar cells. ITSwas assisted in the investment process by Germany Trade & Invest.
ITS’investment will initially create 80 new jobs in the region with plansto double its amount of employees in the future. The company,headquartered in Narvik, Norway, purchases solar cells and usesindustrial production techniques to increase the power output andguarantee the quality of the cells.
Innotech Solar CEO, ThorChristian Tuv, said: "Germany provides us with the ideal conditions tostrengthen our business activities. A thriving photovoltaic industrycluster and outstanding infrastructure here are essential for us. Weare sure the Halle site gives us a unique competitive advantage thatwill allow us to continue our company’s extraordinary growth."
Thedecision to invest in Germany is a testament to the country’swell-developed PV industry. With the highest concentration ofphotovoltaic companies, suppliers, and research institutes, Germany’sindustry posted over EUR 9.5 billion in revenues in 2008. The country’smarket size also makes it an attractive location.
In 2009,Germany had roughly half of all global PV installations, coming in atapproximately 3.0 GW. This trend is expected to continue. Manufacturersbenefit from the "Made in Germany" reputation for high qualityproducts, a well established industrial infrastructure, large equipmentsupplier base, and qualified workforce.
The country’sinfrastructure also played a key role in ITS’ decision to invest in theHalle site. Proximity to the Leipzig-Halle airport and direct access tothe German Autobahn connect the company to the world’s number oneinfrastructure, according to a World Economic Forum study.
InnotechSolar was assisted in the investment process by Germany Trade &Invest and the Investment and Marketing Corporation (IMG) Saxony-Anhalt.
GermanyTrade & Invest is the foreign trade and inward investment promotionagency of the Federal Republic of Germany. The organization advisesforeign companies looking to expand their business activities in theGerman market. It provides information on foreign trade to Germancompanies that seek to enter foreign markets.
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