Taiwan-based solar cell maker Gintech will raise NT$4.62 billion(US$157 million),consisting of a 5-year syndicated loan of NT$4 billion and the issuance of 5-year convertible bonds worth NT$620 million.
Fellow solar maker,Neo Solar Power(NSP),announced on September 24 plans to centralize production lines.The firm will move two of three production lines at its factory in northern Taiwan to its factory in Hsinchu Science Park and the other to its factory in southern Taiwan.NSP has been investing in solar PV systems by setting up subsidiary,General Energy Solutions(GES).
The Taiwan government's National Development Fund(NDF)recently announced plans to provide NT$10 billion(US$340 million)to help the development of Taiwan's green energy industry.Gintech hopes the fund will strengthen capital flow for its joint venture with CTCI Corporation in the US.The joint venture has been focused on developing solar PV system projects.
Most solar cell makers in Taiwan have been investing in the development of solar PV systems,a segment of the supply chain that requires highly flexible cash flow.According to solar firms,the fund provided by NDF offers a competitive interest rate and is expected to help solar makers increase their participation in international solar PV system projects.
