Sanyo, already the world’s largest maker of rechargeable batteries and 11th largest maker of solar cells, says it will quadruple its annual solar-cell production capacity to 1.5 gigawatts by 2015, capturing as much as 10% of the “ever-expanding” global solar market.

While acknowledging that such a ramp-up will require a “humungous” level of investment, Sanyo executive vice president Mitsuru Honma points out that Sanyo’s wealth of experience in both solar-energy and rechargeable-battery technologies present a unique opportunity to become a leading player in the emerging low-carbon economy.

Though details of its expansion plans for 2015 remain murky, Sanyo has pulled back the curtain on its short-term solar growth strategy, for which it has earmarked 70bn ($786m).

By early 2011 the company intends to increase its solar-cell production capacity by 66% to 565 megawatts (MW), with all production remaining in Japan. The company recently finished constructing a new building at its flagship cell factory near Osaka, and has plans to nearly double production at its second, smaller cell facility in Unnan City.

During the same timeframe the company also plans to expand its module production to 625MW from today's 350MW, with boosts to come at its three plants in Japan, Mexico and Hungary. Sanyo’s three module sites reflect its “trilateral” strategy of focusing on the solar markets in Japan, the US and the EU.

Sanyo, like many of its competitors, is scrambling to bring as much of the solar supply chain under its own banner as possible, in order to keep up with the tumbling price of panels. In early November it opened the doors at a new silicon ingot and wafer plant in Salem, Oregon, which it says will help it shrink the cost of its panels by one-third over the next year.

Sanyo is being acquired by Panasonic, a process expected to be finished by the end of 2009.