Intel forms new company as solar power investment
Computer chip maker Intel Corp. announced today that it would make a $50 million investment in solar energy through its Intel Capital division, forming a new company. The new venture, SpectraWatt Inc. will manufacture solar cells for distribution to solar panel manufacturers. Other investors in the company include Cogentrix Energy (a Goldman Sachs subsidiary), PCG Clean Energy and Technology Fund, and the German firm Solon.
According to CNET the company will begin construction of a new facility in Oregon sometime later this year and plans to begin shipments of solar cells by the middle of 2009.
Full Article: TreeHugger
Thumbs up to Intel for taking the iniative to help produce solar cells and promote solar energy growth. It seems like they plan on getting their product out quite fast, so they must have had some research into solar cells going on previously. It is good to see large companies take on problems that face society rather than waiting for others to take command.