NSP, Cathay Life Insurance set up JV for investment in …

Solar cell maker Neo Solar Power (NSP) has announced the establishment of a joint venture mainly with Cathay Life Insurance, and the new entity will invest in PV power stations in Taiwan.

The joint venture will have a paid-in capital of NT$3.5 billion (US$111 million) and the investment will be made in$ two phases. For the first-phase investment of NT$1.5 billion, NSP said it and Cathay Life Insurance will invest NT$600 million for a 40% stake and NT$675 million for a 45% stake respectively.

Investment in the second phase will depend on the joint venture’s business operational performance, NSP indicated.

NSP said it and its subsidiary PV EPC (engineering, procurement, construction) contractor General Energy Solutions have secured projects to set up PV power stations in Japan, the US and Taiwan with total installation capacity of 200MWp. Of the PV power stations, those with total installation capacity of about 80MWp have been completed or will be completed in second-half 2016, NSP said.

Categories: Green energy Solar

Tags: investment joint venture Neo Solar Neo Solar Power PV

Companies: Neo Solar Power

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