Taiwan based AU Optronics Corp is to make an initial US$125 million investment in Japanese polysilicon producer, M.Setek with the aim of gradually becoming the majority shareholder in the company as it makes a move to strengthen its position in the renewable energies market.
“This will mark a major step forward for AUO’s endeavor in energy business,” said K.Y. Lee, Chairman of AUO. “We are very much looking forward to collaborating with M.Setek, jointly bringing greater inputs to solar energy sources and providing better renewable energy solutions.”
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In May, 2009 AU Optronics established AUO Energy Taiwan Corp (AET), with the intention of becoming an integrated renewable energy provider.
M.Setek is currently the seventh largest polysilicon producer in the world and has aggressive capacity expansion plans in place to reach over 30,000MT production by 2012. If the project is successful, M.Setek would become the third largest producer by the end of 2012.