Silex Solar, the only Australian manufacturer of solar cells, will continue to make panels at its Sydney Olympic Park plant. The Australian Broadcasting Corp. earlier reported the company will stop making the cells at its western Sydney facility due to the "very tough market."

Energy Matters, one of Australia's largest companies solely dedicated to renewable energy, cleared the misunderstanding. “We have been informed by Silex Solar the ABC report…as it appeared earlier this morning is incorrect,” it said on its website.

In a statement, Silex Solar announced a restructure of its silicon PV panel business based at Sydney Olympic Park. The restructure involves management and operational changes intended to enhance the business’ competitiveness.

“Silex Solar has made significant progress over the past year, but more is needed in order to realise its potential in avery tough market,” CEO Michael Goldsworthy said.

Key changes to the company include "replacing cells made by Silex with third party cells from a new strategic partner." This will involve around 30 redundancies.

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