A first solar cell factory opened in Vilnius
Posted by editor on 1/27/10 • Categorized as Business, Business and Policy, Economy Watch, Energy • 
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The first solar cell production line was opened in Vilnius on 26 January. Modernios E-technologijos (MET) and Precizika Metrology (PM) invested some 10 million Litas into the project. According to a press release from the Ministry of Economy other five Lithuania companies are ready to start production of solar cells.
Dainius Kreivys, the Minister of Economy participated in opening of the production line and hoped that this is a beginning of whole new sector in Lithuania’s economy, which could grow into a significant industry and would become a pillar of growth. Mr Kreivys is quoted in the press release saying, ‘ It is estimated that the clean-tech sector is creating seven times more of added value than traditional industries. I hope that this investment will become a great example of how high technology is becoming a every day reality in the Lithuania’s industry.”
Precizika Metrology CEO Algimantas Barakauskas informed BNS that it is estimated that the line should generate about 20 million Litas in annual revenue, even though 2010 revenue might reach 10 million Litas.
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