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(PV-Tech News) Recently, Taiwan solar cell and module manufacturer United Renewable Energy Co., Ltd. (URE) announced that in order to consolidate production strength, the company plans to sell a manufacturing plant in Taiwan.
Company said its board of directors approved the sale of the factory in Kebei Road, Zhunan Town to Taiwan Optical Co., Ltd., a manufacturer specializing in semiconductor production for NT$1.04 billion (about US$35.3 million). URE expects the transfer to be completed by the end of the year.
Company pointed out that it will continue to produce solar cells and modules at other production bases in Taiwan and adjust production according to market demand.
Joint Renewable Energy (URE) was established by the combination of three companies, namely Xinriguang, Yujing Energy and Shengyang Optoelectronics. It completed the merger in 2019. The company's solar energy business is mainly based on component brand and system business. In the past two years, the module sales in Taiwan have continued to maintain the first market share.
According to the latest statistics of TrendForce, Taiwan's photovoltaic module shipments in the first half of 2020 were nearly 1GW, and the trend of the three major manufacturers has been formed, namely United Renewable Energy (URE), Yuanjing (TSEC), and AUO; in addition, it is worth noting that Modi entered the top five of the rankings for the first time, and it is estimated that the reason is to win large orders from developers.
After announcing the sale of the factory, URE also announced that the company's board of directors approved the sale of Neo Cathay Power, a joint venture established by URE and Cathay Insurance to Cathay Insurance for NT$170 million (approximately US$5.8 million). The transaction is expected to be completed in the third quarter of 2020.
Company said that Neo Cathay Power was founded in 2016 and focuses on the investment, construction and operation management of solar energy projects in Taiwan. The company currently holds about 98 solar projects.
The company plans to cooperate with Cathay Pacific Insurance in the future to invest in and develop more solar projects, and the company also cooperates with other insurance companies to develop large-scale solar projects in Taiwan.
April, Mercom reported that Taiwanese solar energy developer Chenya Energy Co., Ltd. announced the news that it received NT$7.2 billion (approximately US$239.2 million) financing, which will be used for the 180MW floating photovoltaic project in the Changhua coastal industrial park.
In addition, it was previously reported that Marubeni Corporation and I Squared Capital signed an agreement to acquire shares of Chenya Energy Co., Ltd., a leading solar developer in Taiwan. I Squared Capital agrees to sell its shares in Chenya Energy to Marubeni Co., Ltd. through its ISQ Global Infrastructure Fund. Marube's acquisition is mainly to expand its floating photovoltaic business in Taiwan and other regions.
Last year, global investment management company BlackRock Real Assets announced plans to expand its renewable energy power portfolio in Asia. The fund is a private equity fund managed by BlackRock Real Assets to purchase a 115MW Taiwan portfolio project consisting of 14 projects from Yongxin Energy and JV Energy.
Disclaimer: The above content is reprinted from PVTech News Review, and the content posted does not represent the position of this platform. Contact number of the National Energy Information Platform: 010-65367702, Email: hz@people-energy.com.cn, Address: People's Daily, No. 2 Jintai West Road, Chaoyang District, Beijing
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