Taiwan-based solar-grade polycrystalline silicon wafer maker Green Energy Technology (GET) will issue 100 million new shares to raise additional paid-in capital of NT$1 billion (US$33.7 million) through private placement in two phases. Target investors will be polysilicon material makers for the first phase and PV module makers and/or PV system undertakers for the second phase, according to market analysts.
The fundraisers are to cope with the global market situation following the China government's possible imposition of anti-dumping and anti-subsidization tariffs on polysilicon produced by some US-, Europe- and South Korea-based makers, the analysts said. In addition, GET plans to invite investment from PV module makers and/or PV system undertakers to increase sales, the sources indicated.
The China government is likely to determine anti-dumping and anti-subsidization tariffs at the end of the first quarter of 2013 or the beginning of the following quarter, with rates estimated to range from 20% to 60%, GET CEO Lin Hur-lon indicated. GET expects to benefit from the higher tariffs, Lin said. GET has set up an annual production capacity of 500MWp for solar-grade wafers on lease in China, with the capacity currently performing pilot runs, Lin noted.
GET succeeded in hiking quotes by 3-5% for solar-grade wafers with energy conversion rates of 17.4-17.5% and by about 5% for those with 17.1-17.2% in February, company president Lin Shih Yuan said. With full utilization of annual ingot-to-wafer slicing capacity of 1.55GWp and wafer production capacity of 2GWp, GET is making efforts to improve operations and aims to reach breakeven in the third quarter of 2013.
