to-the-point: Taiwan's Motech unveils solar power generating JV
Solar panels. Featured Image: foxbat/Shutterstock.com
Taiwanese solar cell maker Motech Industries Inc (TPO:6244) has agreed to create a joint venture with two partners to generate and sell electricity from solar photovoltaic (PV) plants.
Motech said in a bourse statement today it has signed a JV deal with TECO Electric & Machinery Co Ltd and TECO Capital investment Co. It mentioned that the contract takes effect as of December 28, 2016, but did not give details about the ownership structure of the new company.
The solar cell maker noted that this move allows it to build up a long-term relationship. It gave no further details about the transaction.