EQS-News / 18/08/2016 / 18:53 UTC+8
*Press Release*
*Aug 18th, 2016*
*NSP Joins Hands with Cathay Life Insurance *
*to Enlarge Taiwan Solar System Project Investment*
Neo Solar Power Corporation (3576 TT) ("NSP", or "the Company"), today
announced that the company will join hands with Cathay Life Insurance Co.
Ltd to co-invest a new company to enlarge Taiwan Solar System Project
investment. The capital of this new co-invest company is planned to be
NT$3.5 billion with two phases capital injection. The first capital
injection is NT$1.5 billion and the second phase capital injection will be
subject to phase one execution result. The exact investment amount and
following company setup schedule will be subject to approval from Insurance
Bureau of Taiwan Financial Supervisory Commission for Cathay Life Insurance
Co. Ltd.
Investing in solar system projects promises higher and steady return than
general financial instruments, and solar system projects can guarantee
expected cash-flow for at least 20 years, which similar to fixed-income
products. Besides, with support from Taiwan government on renewable energy
recently, NSP decides to cooperate with Cathay Life Insurance to invest
Taiwan Solar System Project. It's not only shows NSP supports Taiwan
government policy, but also can enjoy good return from the investment.
NSP always stands on the leading position of photovoltaic technology.
Recently, NSP develops new business opportunities aggressively, such as
expanding business scope into solar system projects and YieldCo formation.
In addition, NSP is seeking four main strategies in past few years: 1.
Relocation of manufacturing capacity outside Taiwan 2. Global solar system
project development and financing to streamline sales of solar cell & solar
modules 3. Building international sales channels for solar modules to lower
the dependency from China 4. Devotes to investment on cell technology
instead of capacity expansion, such as PERC and N-Type HJT.
Due to capacity relocation to overseas since fourth quarter last year which
led to the loss of utilized capacity and increase of manufacturing cost per
unit, the operating performance of NSP was affected this year so far.
However, once completed, those relocated capacity will be very competitive.
Besides, the built international sales channels for modules will alleviate
the threat from China. Also, NSP and NSP subsidiary, GES (General Energy
Solutions Inc.) has fruitful result on solar system project development this
year. The total under construction and COD system capacity is close to
200MW, and planned system projects sold will close to 80MW by the end of
this year. Furthermore, the total system project pipeline so far is
accumulated to 800MW, plus the cooperation with financial institutions, it
is believed system business will have positive long-term contribution to NSP
revenue and profit.
*About Neo Solar Power Corporation (3576 TT) (NSP)*
Founded in 2005 by Dr. Quincy Lin (former Senior VP of TSMC) and Dr. Sam
Hong (former Director of ITRI Research Division), Neo Solar Power
Corporation (NSP) is a leading manufacturer of high performance and high
quality solar cells and modules. With core competitive advantages in
quality, technology and customer service, NSP became the world's largest
merchant solar cell manufacturer by volume in 2013. After selling DelSolar
to NSP, Delta Electronics (2308, TT) became the biggest shareholder of NSP
with a 19% holding. Leveraging current leading position in solar cell
technology, NSP will further expand into the global solar systems
businesses, aiming to become the leading solar system integrator in the
world. For more information, please visit the company's website at
www.nsp.com
*For further information, please contact:*
Ms. Shirley Chen
Investor Relations Dept.
Phone: +886-3-578-0011 ext. 20626
Email: Shirley.Chen@nsp.com
Document: http://n.eqs.com/c/fncls.ssp?u=BRGLWBNIHT [1]
Document title: NSP Joins Hands with Cathay Life Insurance to Enlarge Taiwan
Solar System Project Investment
Key word(s): Alliance
18/08/2016 Dissemination of a Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Media archive at www.todayir.com
493961 18/08/2016
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=f206aff6d563e6841b767d12f88955c1&application_id=493961&site_id=vwd&application_name=news
(END) Dow Jones Newswires
August 18, 2016 06:53 ET (10:53 GMT)
© 2016 Dow Jones News
