Taiwan-based polysilicon maker Powertec Energy has raised an additional paid-in capital of NT$3.6 billion (US$120 million) and obtained syndicated loans of NT$4.8 billion to reach the NT$23 billion needed to establish the first phase of its planned factory in central Taiwan, company president Scott Kuo has revealed.
Of the additional paid-in capital, NT$1.1 billion will come from CTCI, the project undertaker for factory building design and construction, NT$700 million from Walsin Lihwa, one of Powertec's major shareholders, and NT$1.1 billion from Taiwan's National Development Fund, Kuo indicated.
Establishment of the factory was discontinued from late 2012 to early 2013 due to lack of funding.
With production equipment and technology introduced from US-based GT Advanced Technologies, the first phase of factory will have an annual production capacity of 6,000 tons and is scheduled for completion by the end of 2014, Kuo said. Production will begin in April 2015.
The global PV market outlook is optimistic, with some research organizations upward adjusting total PV system capacity installation forecasts in 2014 from 40GWp originally to 49GWp, Kuo said. International prices for polysilicon are expected to begin to rise in the second half of 2014, Kuo indicated.
