Taiwan-based TFT-LCD panel maker AU Optronics (AUO) on April 7 announced the establishment of Star River Energy, a joint venture with several local insurance companies specifically for investing in and managing operation of PV systems or power-generating stations in Taiwan.
Star River will have initial paid-in capital of NT$540 million (US$17.8 million) and AUO will hold a 35% stake, AUO said.
AUO has set up a complete PV supply chain consisting of polysilicon material, solar-grade crystalline silicon ingots and wafers, solar cells, PV modules as well as EPC (engineering, procurement and construction) and 20-year operation and maintenance turnkey solutions, the company pointed out. The establishment of Star River is expected to enhance the functional performance of the PV supply chain, AUO indicated.
AUO will sell its 26.37 million shares of Sungen Power to Star River at NT$14.1714 per share for a total price of NT$373.7 million, the company noted. Sungen Power is a 20MWp PV system being setting up on rooftops of AUO's factory in central Taiwan, with 13.3MWp having been completed currently, AUO indicated. Sungen Power is so far the largest rooftop PV system in Taiwan, AUO pointed out.
Sungen Power, a PV system being built on rooftops of an AUO factory
