Sanyo to invest US$350 million in solar over 5 years

Japanese electronics maker Sanyo Electric Co. said on Wednesday it would invest more than US$350 million in its solar cell business over five years, aiming to cash in on growing demand for renewable energy.

Sanyo, the world’s fourth-largest maker of solar cells behind Sharp Corp., Germany’s Q-Cells and Kyocera Corp., aims to more than triple sales from the business to 180 billion yen (US$1.6 billion) by the year to March 2011.

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