23 April 2013 10:24 GMT
08 October 2012 09:16 GMT
By Andrew Lee in London
Tuesday, April 23 2013
Updated: Tuesday, April 23 2013
US-based SunEdison signed a deal with Fox Energy – the solar division of Foxconn – to have the panels made at the latter’s plant in Juarez, Mexico.
Taiwan-based Foxconn – the world’s largest contract-manufacturer of electronics – has made increasing forays into the PV sector over the last few years, until now mainly in China.
Electronics industry analysts say it sees solar as an attractive growth market to compensate for a decline in revenues from its staple business of making consumer technology products, including the iconic iPhone and iPad for Apple.
Foxconn first told shareholders of its solar ambitions in mid-2011, and later that year signed a memorandum of understanding with Chinese giant GCL-Poly to co-develop a PV power plant.
Reports in China have linked the company with plans to build up to 1.2GW of cell and module manufacturing capacity.
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