Executives from China-based solar firm Wuxi Suntech have visited Taiwan to hold talks with solar cell OEM firms. Wuxi Suntech hopes to continue cooperation with Taiwan-based solar firms while seeking alliances with South Korea-based firms on solar module production.
Solar makers noted that because China does not have clear regulations regarding its bankruptcy laws, once Wuxi Suntech enters into insolvency, the Wuxi government will naturally step in to take over. In addition, banks lent money to Wuxi Suntech, not the parent company, Suntech Power Holdings.
Due to the trade war in the US and Europe, Wuxi Suntech believes that by issuing OEM orders for solar cells and modules, the firm can avoid being taxed. Despite its recent financial troubles, Suntech hopes to maintain annual shipments of 700-800MW to the two major markets and uphold its brand image.
