Bosch to invest in solar power plant in Malaysia

Hayes, who is also Managing Director of Robert Bosch Sdn Bhd said the new facility would be an essential part of its globalisation target to further reduce costs and increase energy yields.

"In order to achieve economies of scale in production costs, Bosch is currently evaluating the most technologically advantageous direction for the plant.

"We will therefore be adjusting the commencement of the construction to a later time in 2012," he said.

Bosch, a Stuggart (Germany) based technology firm, had earlier been reported as having postponed construction of the RM2.2 billion solar panel plant in Batu Kawan, Penang.

The company also said that it was pushing ahead with the internationalisation of photovoltaics, despite the current difficult market environment.

"Bosch is convinced that photovoltaics is a business with long-term potential, and will play a major part in the progressive move to new sources of energy," the statement said.

The company has been present in Malaysia since 1923, represented by Robert Bosch, with offices in Selangor, Perak and Penang.