Hyundai Heavy today took the first step in building Korea's biggest CIGS(copper, indium, gallium, selenide) thin-film solar cell plant.

The investment agreement signed with France's Saint-Gobain and Chungcheongbuk-do is to build a 400 MW GIGS solar cell plant in Ochang Foreign Investment Zone, Chungcheongbuk-do , by 2015. Construction is scheduled to start from March 2011.

Upon completion, the 231,000 ㎡ solar cell plant will have four solar cell manufacturing buildings with an annual production capacity of 100 MW CIGS each and one administration office building.

Last October, Hyundai Heavy and Saint-Gobain established the joint venture company Hyundai Avancis that can help to advance mass production of thin-film solar cells in the Korean market.

Kim Jung-rae, a senior executive vice president of Hyundai Heavy said "The new plant makes Hyundai Heavy the sole Korean company producing both thin-film and crystalline solar cells. Upon completion of the plant, we can achieve our target of being a Global Top 5 CIGS solar cell manufacturer by 2015."

The new factory is also expected to have a positive effect on the economy of Chungcheongbuk-do by creating about 1,000 new jobs and boosting local tax revenues.