Norwegian solar-power outfit Renewable Energy Corp. aims to produce nearly 10 times more solar wafers by 2010 that it does today by investing NOK1.35 billion ($235.8 million), the company heralded Tuesday.

The the world's largest producer of polysilicon and wafers for solar applications will increase the production of monocrystaline wafers at its plant in Glomfjord, Norway. “Installed power” will increase from 35 megawatts to more than 300 MW over three years.

"With the increased focus on high-efficiency cells within both mono- and multicrystalline technologies, it becomes strategically important for us to build a strong position within both these technologies which collectively represent around 90 percent of the current solar market", compan president and chief exec Erik Thorsen said in a statement.

A statement said it was important for the company to move from being “a monocrystalline ingot producer, to a fully integrated manufacturer of monocrystalline wafers.

The company aims to double staff to 180.