Panasonic has released a statement that it wants to be Japan’s top maker of solar cells within about three years as part of an increased focus on environmental technology. Panasonic will expand its solar cell business by incorporating the technology of Sanyo Electric, which joined the Panasonic group last year.

The electronics company will invest 1.07 billion dollars by early 2016 to increase production of Sanyo’s ‘HIT’, one of the world’s most efficient solar cells. Panasonic aims to become one of the world’s top three solar cell makers within about six years.