Neo Solar seeking Vietnamese partner for 800-MWp panel JV – report

Construction News Vietnam

Neo Solar seeking Vietnamese partner for 800-MWp panel JV

Taiwanese firm Neo Solar Power Corp (TPE:3576), or NSP, is looking for a sector player in Vietnam interested in setting up a joint venture (JV) for between 600 MWp and 800 MWp of PV panel production capacity there, DigiTimes said Wednesday.

So far, Vina Solar has emerged as the best partner for the job, unnamed industry sources were cited as saying. With the capabilities to manufacture more than 1,000 MWp of solar modules, the firm already serves as an original equipment manufacturer (OEM) for Chinese peers Canadian Solar Inc and JA Solar Holdings.

Late last month, Neo Solar’s PV commenced an adjustment of its 200-MW module factory in Miaoli, causing both its orderbook and revenues for January to drop significantly. While some local media speculated that the shutdown of the production lines is due to a planned relocation outside Taiwan, the crystalline silicon solar cell and module maker rebuffed the reports by explaining the move is due to weak demand for PV panels and is only temporary.

All in all, Neo Solar aims to boost its respective annual production capacity for PV cells and panels to 2.5 GWp and 1 GWp by the end of 2016. This compares to 2.2 GWp and 400 MWp at present, respectively.