Taiwanese solar merger trio books USD 91m in Nov sales

Chart by EnergyTrend (trendforce.com).

December 11 (Renewables Now) - The combined November revenues of Taiwanese solar manufacturers Gintech Energy (TPE:3514), Solartech Energy (TPE:3561) and Neo Solar Power (TPE:3576) arrived at some TWD 2.73 billion (USD 91m/EUR 77.3m).

The three Taiwanese firms in October announced that they have signed a non-binding letter of intent (LoI) to merge and create one of the biggest solar cell makers globally. When separate announcements by each firm are put together, their combined revenues in January-November 2017 reach TWD 28 billion. The merger agreement leaves out another major player in Taiwan -- Motech Industries Inc (TPO:6244) -- whose revenue in the 11 months was TWD 21.1 billion.

The table below contains revenue figures for all four companies.

Results in TWD million Nov 2017 Y/Y change M/M change 11-mo 2017 Y/Y change
Solartech 361 -50.96% -37.98% 5,817 -35.91%
Gintech 1,261 +41.7% -6.3% 13,006 -2.8%
Neo Solar 1,110 +23.62% -12.71% 9,231 -40.10%
Motech 2,056 +6.23% -2.08% 21,090 -24.16%

Neo Solar said demand in the fourth quarter is slower due to the weather and Thanksgiving and Christmas. At Solartech, a fire in October damaged some production lines.

(TWD 100 = USD 3.33/EUR 2.83)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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