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Panasonic preps for solar power biz entry

Posted: 02 Jun 2010 ?? ?Print Version ?Bookmark and Share

Keywords:solar power? energy management? solar cell?

The Panasonic Group is slated to launch next month its HIT 215 series of household solar power generation systems, the first series of collaborative products to be developed since Sanyo became a part of the group. The launch signifies how the newly extended group has combined its collective strengths for a full-scale entry into the solar cell business.

Since the announcement of the capital and business partnership with Sanyo in December 2008, Panasonic has established a Collaboration Committee and promoted discussions, under all applicable laws and regulations, to maximize the potential synergy effects within the new Panasonic Group. Following the subsequent formalization of this takeover on Dec. 21, 2009, 27 different sub-working groups have engaged in more advanced discussions, and the HIT 215 series household solar power generation systems, featuring HIT 215 solar power generation modules with the world's highest-level energy conversion efficiency, represent the first tangible fruit of these collaborative efforts.

The new products combine Sanyo's solar power generation modules with Panasonic's energy management technology, construction materials, and electrical technology, and will be broadly promoted across the companies' various sales routes, including home appliances, electrical and construction products. In doing so, the Panasonic Group is seeking to maximize its combined strengths to achieve significant business expansion within the rapidly growing solar power generation market, and aims to establish a position as the top manufacturer in the market with a target share in Japan of at least 35 percent by 2012.

The Panasonic Group is currently working to boost its product strengths in devices that create energy, store energy, and save energy; its ability to offer value by linking these devices together as systems; and its capacity to sell these products and systems across the globe. Such initiatives are designed to accelerate the growth of its energy systems business as a flagship business for the entire company.

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