Q-Cells to build a solar plant in Mexico

German solar cell producer Q-Cells AG has agreed with the Mexican Federal Government, the Government of the State of Baja California and Silicon Border Development—a developer of industrial parks for high-tech-companies—to build a production complex for thin-film modules in Mexicali, the state capital of Baja California, close to the U.S. border.

Under the agreement, Q-Cells will invest up to $3.5 billion in the mid to long term. The expansion plans are contingent upon the development of the photovoltaics markets in the United States, Mexico and Latin America, that will be supplied from Mexicali.

The company expects to achieve a better access to the American growth markets and hedge against currency fluctuations with the new plant.