Masdar Says it Believes Solar Market Will Stabilise

14 July 2009 (Last Updated July 14th, 2009 18:30)

The present fall in the solar market should stabilise by October 2009, according to an industry player which is ramping up production of solar power plants around the world. Masdar PV chief executive Rainer Gegenwart said the economic downturn and over-hyped demand in Spain will soon se

The present fall in the solar market should stabilise by October 2009, according to an industry player which is ramping up production of solar power plants around the world.

Masdar PV chief executive Rainer Gegenwart said the economic downturn and over-hyped demand in Spain will soon settle, allowing the market to pick up.

The division of Abu Dhabi’s state-owned Masdar has just completed a solar panel factory in Germany, according to businessgreen.com and plans to start a second factory in Abu Dhabi next year, with production expected in October.

Gegenwart said the factories will cater to markets mostly in the EU such as Germany, Italy, France and Spain.

The company’s focus will be on then-film solar panels, with 65MW of solar panels planned for production in the first year of its German plant which will start operating in October this year.