AU Optronics Corp’s (友達光電) board yesterday approved a plan to invest an additional ¥15 billion (US$166.7 million) into M. Setek Co by subscribing to the Japanese solar wafer maker’s new shares.
The investment is part of the Hsinchu-based flat-panel maker’s efforts to strengthen its presence in the solar industry supply chain.
With the capital injection, M. Setek would be able to complete the construction of its second plant in Soma and more than double its polycrystal silicon capacity, AU Optronics said in a statement.
“The investment will help M. Seteck perform better in operation, sales and finance, as well as develop Japan and overseas markets,” the statement said.
After the transaction, AU Optronics will hold a bigger, or 65.5 percent, stake in M. Setek, from 58 percent at the end of 2008.
When the plant is completed, M. Setek can expand annual production to 7,000 tonnes of polycrystal silicon a year, from 3,000 tonnes at present, the statement said.
AU Optronics is building a solar module production line in Taichung, which is expected to ramp up production this quarter. The firm yesterday said it also planned to invest US$8 million to set up solar energy operations in Tianjin, China.
Last June, AU Optronics said it shipped its first batch of solar modules to customers in Europe.
The first solar park project in the German city of Hungen was also on-grid by the end of last year, it said.
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