Suntech Power Holdings , the world's largest solar cell maker, will raise its solar panel capacity to 2.4 gigawatts (GW) by end-2011, its chief executive said.
"We intend to produce wafers ourselves to 50 percent of (our) cell capacity," Suntech's Zhengrong Shi told Reuters on the sidelines of a Seoul summit on Monday.
Suntech has focused on increasing production of the silicon wafers used in its modules in order to cut its reliance on suppliers.
Shi added that it would raise funds to boost capacity through joint ventures, bank loans and its own capital. (Reporting by Ju-min Park; Editing by Jonathan Hopfner)
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