Lg invests in solar energy

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Lg solar (640x449)

Lg Electronics will expand its solar energy solution business with a multimillion dollar investment for the company’s solar panel manufacturing capabilities in South Korea. Lg entered into a memorandum of understanding with the Korean city of Gumi to invest 435 million dollar to expand the company’s solar cell manufacturing facilities in the city. The addition of six production lines to the current eight will increase capacity from 1GW to 1.8GW by 2018 and 3GW ― equivalent to the electrical power consumed by one million households ― by 2020.