Showa Shell To Spend $1.1 Billion Chasing First Solar

Japanese oil refiner Showa Shell Sekiyu KK said it will invest $1.1 billion to build a new thin-film solar cell plant, as it chases First Solar in a growing market.

Showa Shell's 100 billion yen plant -- its third solar cell facility -- will boost its annual production capacity twelve-fold to 980 megawatts when it comes onstream in the second half of 2011.