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Green Energy Technology and Gintech to Form New Module Company “Gintung Energy Corporation”

published: 2014-06-20 17:54

Green Energy Technology (GET), a subsidiary of Taiwan-based Tatung Group, and module maker Gintech Energy Corporation announced a strategy cooperation to establish a new module company, “Gintung Energy Corporation.” The new Joint Venture will focus on producing high-efficiency PV modules with a “Made in Taiwan” brand.

Both Tatung Group and Gintech regard “honesty and trust” as the central business motto, and this shared value is a connection to the strategic corporation. The joint venture, Gintung Energy Corporation, integrates both companies’ technology, managing know-how, business strategies and raw-material procurement. On one hand, GET produces 2GW of high-class wafers every year for high-efficiency PV cells; on the other, Gintech is a world-top-ten PV cell producer with a capacity up to 1.8GW per year. This strategic cooperation therefore is a combination of “two giants” that mixes Tatung’s R&D ability and factories around the world with Gintech’s high-efficiency cells technology.

Right to left: S. Y. Lin, President of CET; Wen-Yen K. Lin, President of Tatung Group; Wei-shan Lin, Chairman of Tatung Group; Dr. Wen-Yen Pan, Chairman and CEO of Gintech; Dr. Wen-Whe Pan, President and COO of Gintech. (Photo: EnergyTrend)

Gintung Energy plans to expand its module capacity from current 170MW to 320MW by 2014. As a completely “Taiwan-based” company, Gintung Energy ships approximate 14MW of modules per month, and reached profit in 2013 and the first quarter of 2014. Future expansion plans will be set after the final ruling in U.S.’s anti-dumping and countervailing tariffs, as well as the global market opportunities.

“Tatung Group runs factories around the world, such as a Mexican plant near the Mexico-United States border,” indicated Wen-Yen K. Lin, President of Tatung Group. “We will provide our facility to Gintung Energy as long as it is necessary to do.”

The renaming of Utech to Gintung Energy will be taken effect after certain official processes. Tatung Group and Gintech will respectively hold 45% and 36% of the new company’s share. After this combination, there will be a brand new “Made in Taiwan” integrated PV joint venture that covers from wafer to PV systems.

Price of Gintung Energy’s modules will be slightly higher than current PV modules. Yet Dr. Wen-Whe Pan, the President and COO at Gintech, emphasized that the new company will bring products with better efficiency and performance to “meet our customers’ requirement and win their trust.”

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