Taiwan-based solar cell maker Gintech Energy plans to merge with PV module maker Apollo Solar Energy, a subsidiary solar wafer maker Green Energy Technology (GET), while GET plans to merge with fellow maker Utech Solar, a Gintech subsidiary, according to PV industry sources in Taiwan.
Through the merger, Gintech can expand PV module production capacity and GET can do that for solar wafers, the sources said, adding Apollo Solar and Utech Solar have annual production capacities of 120MWp and 450MWp respectively.
Viewing that Japan-based PV vendors now outsource production of entire modules rather than just cells, Gintech has planned to expand in-house PV module production capacity to 250MWp a year, the sources said. Following the merger, Gintech will set up a new subsidiary to combine its own PV module production lines and Apollo Solar's, the sources noted.
Apollo Solar has obtained certification for PV modules from Japan Electrical Safety & Environment Technology Laboratories (JET) and entered the Japan market, the sources said. Currently, Apollo Solar has 50% of production for own-brand sale and the rest for OEM shipments, the sources said.
Utech Solar is a joint venture established by Gintech, Taiwan-based CTCI Corporation and Japan-based Mitsubishi Corporation, with Gintech holding the largest stake. Utech Solar has undertaken OEM production for GET for a while, the sources indicated.