Sanyo Electric Co. received an order to build a solar power plant in Apulia, southern Italy, from a group led by Deutsche Bank AG.
The plant’s 32,202 solar panels will have a capacity of 7.567 megawatts, Sanyo said Wednesday. It is to be completed by September. Financial details of the order weren’t disclosed.
Sanyo is investing ¥50 billion in its solar-cell operations as part of a plan to boost its operating margin to 4.5 percent from 2.3 percent in the three years to March 2013, the company said earlier this month.
Panasonic Corp., which acquired Sanyo in December and aims to develop next-generation solar panels with the smaller electronics maker, intends to invest another ¥100 billion in the solar operations.
The group led by Deutsche Bank will sell electricity generated at the plant to utilities, said Mitsuru Honma, a Sanyo executive vice president.
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