Memory giant Micron Technology has formed a 50:50 joint venture with Sydney, Australia-based integrated energy company Origin Energy Limited focused on the development of PV (photovoltaic) technology.
"As we have looked to leverage our core strengths in other markets, photovoltaic 
energy technology is a natural area of investigation," Mark Durcan, Micron's president and COO, said in a statement.
"Origin is a company with a significant interest and history in renewable energy technologies. Combining our semiconductor manufacturing expertise with Origin's solar experience could result in a strong partnership."
Andrew Stock, Origin's executive general manager of major development projects, added that "the near term objective of 
the joint venture is to combine the work Origin has done to date in solar development with Micron's capabilities, and to examine opportunities for commercialization."
The companies did not provide details on where the venture would be based, what investment each partner would make, nor the venture's name or launch date.
The PV market, like most markets in 2009, suffered a decline. However, according to experts, there are some reports of strengthening market conditions in the latter part of Q4 and a beginning recovery in 2010.
By Suzanne Deffree, Managing Editor, News - Electronic News