Hydro Increases Total Investment in Ascent Solar to NOK118 Million

Aug 22 - Datamonitor

Norwegian oil and gas player Hydro has revealed that it is investing an additional NOK62 million in Colorado, US-based solar energy firm Ascent Solar, a producer of super-thin, flexible solar cell modules. This follows an initial investment of NOK56 million in March 2007, bringing Hydro's total investment in Ascent Solar to NOK118 million.

"Ascent has developed an exciting and future-oriented solar cell technology, and we believe there will be a large market for their products. Its super-thin, flexible solar cell modules go very well with Hydro's building systems activities, and we look forward to maintaining our prosperous partnership with Ascent," said Einar Glomnes, head of Hydro's solar division.

Hydro said that the active layers of Ascent Solar's cells, which convert sunlight into electricity, are no more than three micrometers thick (three-thousandths of a millimeter), compared to the conventional solar cells, which are 200 micrometers thick.

The cells are also flexible, enabling application to rolled or uneven surfaces, in addition to more conventional uses. Hydro said that this flexibility makes the cells particularly suitable to construction systems. Hydro is already actively involved in the development of aluminum building systems providing solutions for the construction of doors, windows and facades.

Hydro said that its engagement in solar energy involves investments in various parts of the value chain. In June 2007, the company joined Umicore in forming HyCore, a company that is to develop a pilot production plant for the manufacture of solar-grade silicon in Norway.

Hydro is also part-owner of Norsun, which will produce monocrystalline silicon wafers for the production of solar cells. Mr Glomnes revealed that as part of its long-term solar strategy, the company is continuing to look for new partners and possibilities in the solar energy field.