Newly formed United Renewable Energy Co. is the result of the merger between three of Taiwan's leading solar companies. Move comes at a time of intense competition in the Taiwanese solar space.As reported by pv magazine last Friday, leading Taiwanese solar cell companies Gintech, Neo Solar Power (NSP) and Solartech are to merge into a new, single company.
United Renewable Energy Co., Ltd (UREC) is the name given to the new company, which is to be officially created by the end of December, with the merger process complete by Q3 2018. A Letter of Intent - while not legally binding - has been signed by the three boards of directors and lays out the terms of the merger.
Interestingly, the creation of UREC will be based on all three firms having an equal and mutually beneficial say in the running of the new company. For legal reasons, however, NSP will remain as the surviving company after the merger with its two partners. Once the merger is complete, NSP will become UREC.
According to NSP's Dr. Hong, the intention is for UREC to have five separate business units, each overseen by various factions within UREC: wafers by Gintech, cell and other new business by Solartech, and modules and projects by NSP.
In a press release issued by NSP, the company said that "faced with a highly competitive and increasingly concentrated market, the companies believe that Taiwanese manufacturers should ...Den vollständigen Artikel lesen ...