Neo Solar Power Corp (新日光) yesterday said it recently secured an order to supply 300-megawatt solar modules to a client, thanks to positive synergy from its acquisition of local rival DelSolar Co (旺能光電).
The merger between Neo Solar and DelSolar was officially completed yesterday.
The acquisition has boosted Neo Solar’s solar cell capacity to 2 gigawatts a year, making it the nation’s biggest solar cell maker, overtaking Motech Industries Inc (茂迪).
The deal has also pushed up Neo Solar’s global ranking to No. 2, the company said.
“The merger has increased our production scale. As a result, we can serve more [big] customers with our annual capacity of 2 gigawatts,” Neo Solar chairman Quincy Lin (林坤禧) said in a statement.
“Neo Solar has received substantial orders to supply solar cells and solar modules in the second quarter. Our [order] visibility extends into the third quarter,” Lin said. “We expect operations will improve as selling prices are rising stably.”
Due to growing demand from Chinese customers because of the solar disputes between China and the EU, solar cell shipments from Taiwanese companies could grow by about 30 percent this quarter to 2,083 megawatts from 1,593 megawatts last quarter, Market Intelligence & Consulting Institute (MIC, 產業情報研究所) said on Thursday.
Prices for solar cell prices are expected to rise to US$0.41 per watt this quarter, from US$0.37 per watt in the first quarter, the Taipei-based MIC said.
Neo Solar said its solar module capacity also expanded to 240 megawatts a year following the merger with DelSolar.
The synergy has also boosted its pricing power in purchasing raw materials, meaning a significant reduction in raw material cost, the company said.
Separately, Neo Solar’s shareholders approved a proposal to sell 150 million common shares in the form of global depositary receipts in the second half of the year.
The company said it planned to use the proceeds to replenish operation funds and to repay bank loans.
Neo Solar shares dropped 0.19 percent to NT$25.6 yesterday, while the stock price of Motech plummeted 1.38 percent to NT$42.90.
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
HSBC Holdings PLC is deepening its commitment to Taiwan as the economy emerges as one of the bank’s fastest-growing markets globally, driven by an artificial intelligence (AI) investment boom, expanding cross-border trade, and rising wealth creation. “The advantage that Taiwan has is a growth story linked to the semiconductor and broader AI industries, strong underlying corporate performance, and wealth creation,” said Surendra Rosha, HSBC’s co-chief executive for Asia and the Middle East, in an exclusive interview with the Taipei Times on June 2, during this year’s HSBC Taiwan Conference. That combination has helped HSBC cement its position as the most profitable international
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
RSS