Danen Technology, Walsin Lihwa to Construct Solar Wafer Production Facility in China

Danen Technology and Walsin Lihwa have declared their intentions to establish a solar wafer plant in liyang Jiangsu Province, China. The proposed plant is anticipated to be installed with an investment of around US$500 million.

The companies have jointly signed an MOU for the investment with the local administration. The companies have decided to finalize the other details of cooperation required for the plant operations after the Lunar New year.

According to the reports, the companies will keep aside US$200 million for the initial stage of the investment. The proposed plant in the first stage will begin with a production capability of 1 GWp per year and later it will be increased to 2.5 GWp. Danen declared that the new plant would aim to reach a total production capacity of 520 MWp by the end of the year 2011.

Industry sources claim that the joint venture between the companies signify that Danen will be in a position to achieve financial assistance from Walsin for the project. Incidentally HannStar Board, a PCB producing, auxiliary company of Walsin, has financial investments in Danen.