Tokyo - Japan's Mitsubishi Electric plans to triple its production capacity for high-efficiency solar cells by 2012, investing over 10 billion yen (91 million dollars), the economic daily Nikkei reported Wednesday.

The electronics company was responding to growing demand for renewable energy, triggered by high oil prices and concern over global warming.

Mitsubishi Electric was to set up a new production facility at its plant at Iida in Nagano prefecture, raising annual production capacity to 600,000 kilowatts, from its 220,000-kilowatt target for October, the Nikkei reported. (dpa)