Origin Energy Limited (ASX:ORG) has announced it will discontinue production of US solar cells.
The energy company says its 50:50 joint venture with Micron Technology, named Transform Solar, will cease production of its SLIVER photovoltaic modules in Idaho.
The decision has been taken because of a global oversupply of solar cells and subsequent challenging market conditions.
Origin says these circumstances do not currently support investment in new technology and as a result Transform Solar will trim its Idaho operations and workforce.
Origin will now review the carrying value of 50 per cent interest, which was $134 million at the end of last year.
Origin reported a net profit of $823 million in first half of its 2012 financial year.
