Intel Invests in Solar Energy

The computer chips manufacturing Corporation Intel announced an investment of $ 50 million in solar power through its Intel Capital division, forming a new company. The new trading company, Spectra Watt Inc. will manufacture solar cells for distribution to manufacturers of solar panels. Other investors in the company include Cogentrix Energy (a branch of Goldman Sachs Group), the PCG Clean Energy and Technology and the German company Solon.

According to CNET the company will begin building a new facility in Oregon this year and plans to start with the release of solar cells in mid 2009.

The Intel executive vice president Arvind Sodhani said, “SpecraWatt is a great example of technology resulting from entrepreneurial efforts inside Intel. This is an important investment for Intel Capital in the growing clean technology sector “.