Intel Plugs Into Solar Power

SAN FRANCISCOIntel(INTC Quote) is joining the growing ranks of chipmakers with solar energy aspirations, announcing the spinoff of its key photovoltaic assets into a new standalone company Monday.

Intel's investment arm, Intel Capital, will lead a $50 million funding round in the new company, to be called SpectraWatt. Goldman Sachs subsidiary Cogentrix Energy will also pitch in on the deal, along with a couple of other investors.

The company is expected to begin shipping products by mid-2009, with construction of a new manufacturing facility in Oregon slated for later this year. ...