Sharp and Enel SpA of Italy Ally for Solar Power

Sharp Corp and Enel SpA of Italy (Europe's No 2 power company) are planning a joint venture to create one of the world's largest solar power operations by 2011.

The two want to generate 160 megawatts of electricity – enough to power 40,000 households.

Sharp may end up investing some tens of billions of yen to help Enel build a plan in Italy that will specialize in building thin-filmed solar panels.

Sharp has an annual production capacity for solar cell panels of 710 megawatts. The company wants that to be 6,000 megawatts.

Partnering with local power companies is part of Sharp's strategy.

Sharp aims to be in the alternative power industry what Toyota and Honda are in the car world.

Before long, the rest of the world will be playing catch up to a Japanese company….again.

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