Green Energy to Set Up Solar Panel Factory in China

Green Energy Technology Inc (GET), the largest solar-panel crystal-growing manufacturer in Taiwan, reportedly plans to set up a plant in China, making it the first Taiwan-based company there, according to local Chinese-language economic daily newspaper Economic Daily News (EDN).

EDN said that GET might choose among Liaoning, Shandong, Shanghai to construct its new plant.

Industry insiders pointed out that GET is already an OEM supplier for Suntech Power, the largest solar-cell maker in China, with the plant-building expected to further expand the partnership between the two parties.

Suntech, GET`s major customer, expects to ship solar-cell panels with total capacity of 530 MW this year, is currently the largest solar-cell maker in the Great China region with annual revenue of $1.9 billion to $2.1 billion.

As exports of poly-silicon products are levied 17 percent in value-added tax, the insider said, GET`s new plant in China could enable material supply directly from Suntech at lower cost to achieve higher margins.

Solar power is one the focal-points in the Chinese central government`s 11th five-year economic development plan, suggesting promise in the huge market.

Other Taiwan-based solar-cell-related companies have also set up business in China by establishing production facilities or through re-investments, including Motech Industrial Inc, PanJit International, Wafer Works Corp etc.

GET, however, will be the first Taiwan-based solar-cell producer in China. Currently GET is the largest solar-cell crystal-growing maker in Taiwan with a maximum annual capacity of 400 MW (megawatt), while the company is actively stepping into thin-film type solar-panel segment with a new product line to be inaugurated in the fourth quarter this year.

Source: CENS