Taiwan government to invest in solar manufacturing merger – reports

Facebook
Twitter
LinkedIn
Reddit
Email
Holding a press conference in Taipei last Friday, the merging solar companies were said to have announced government financial support for the merger through its National Development Fund, which previously invested in Taiwan’s most successful semiconductor foundry, TSMC. Image: NSP

The planned merger of Taiwan-based PV manufacturers Gintech Energy, Neo Solar Power (NSP) and Solartech Energy to be called United Renewable Energy Co (UREC) is to receive an investment from the Taiwan government, according to reports. 

Holding a press conference in Taipei last Friday, the merging solar companies were said to have announced government financial support for the merger through its National Development Fund, which previously invested in Taiwan’s most successful semiconductor foundry, TSMC. Financial support was also said to come from state-owned, Yao Hua Glass Co. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The merger of the three PV manufacturers to form UREC was expected to be completed in third quarter of 2018 and plans to be a major integrated company with a focus on the downstream PV project business with the aim of generating NT$ 90 billion to NT$ 100 billion in revenue (US$3 billion to US$3.4 billion) per annum within five years of the merger, equating to over 3 times 2017 combined earnings.

The reports noted that government funding would be around NT$4 billion, due to rules. 

PV Tech recently highlighted that 2017 revenue of Gintech was around NT$ 14.3 billion (US$483.7 million), while NSP had revenue of NT$ 10.289 billion (US$348.2 million) and Solartech revenue was around NT$6,282 million (US$212.6 million).

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).
June 26, 2025
International researchers led by King Abdullah University of Science and Technology (KAUST) have developed a new cooling technology that improves the power and longevity of solar cells.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico