Neo Solar Power Corp. Begins Building New Facility
Neo Solar Power Corp., a solar cell manufacturer, announced the beginning of construction on a southern Taiwan operations hub that is expected to be capable of producing 3.4GW of solar cells a year after its scheduled completion in three to four years.
Quincy Lin, chairman of the company, stated that the company’s production of solar cells is about 620MW at present and could grow to 800MW by the end of this year.
The company will invest NT$30 billion to build the center at Tainan Science Park, Lin said, adding that its capacity could eventually reach 4.2 GW, which would make it one of the three largest manufacturers in the world.
Lin said that it is expected to create 1,000 jobs and generate NT$140 billion in revenue. Currently, 40% of the company’s products are sold to China, according to Lin. Taiwan’s production capacity of solar cells is higher than China’s, while China produces more solar silicon wafers, he said, adding that the two sides should cooperate and complement each other in the sector.
Vice President Vincent Siew said that the government is seeking balanced development of southern and northern Taiwan and that the solar energy sector is a promising industry. He said he hopes the establishment of the company’s facility in southern Taiwan will create a solar industry cluster effect there.
Vice Minister of Economic Affairs Huang Jung-chiou said that Taiwan’s production of solar cells is about 2.5 GW a year and that after going into operation, the center is expected to sharply boost the country’s production capacity.