Government to help fund solar merger

‘WINNING FORMULA’: The merger of Neo Solar, Gintech and Solartech Energy into United Renewable Energy Co would help them diversify into solar system installations

Taipei Times
Date: Jan 13, 2018
By: Lisa Wang  /  Staff reporter

Solar cell maker Neo Solar Power Energy Corp (新日光能源) yesterday said it has

Neo Solar chairman Sam Hong, right, speaks at a news conference in Taipei yesterday.
Photo: CNA

received government support to finance a three-way merger in the latest restructuring efforts — worth NT$5 billion (US$168.92 million) — to boost profitability by penetrating all levels of the solar supply chain.

It is a strategy created by Neo Solar and local partners Gintech Energy Corp (昱晶能源) and Solartech Energy Corp (昇陽光電) to counteract price volatility in the solar cell market by rapidly diversifying into a lucrative solar system installation business.

“We are not forming a big solar cell alliance,” Neo Solar chairman Sam Hong (洪傳獻) told a media briefing yesterday. “We are creating a different business model — a winning formula — via this three-in-one merger.”    [FULL  STORY]

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