Mitsubishi Corporation

Press Room

April 26, 2011
Mitsubishi Corporation

Solar Wafer Business in Taiwan

Mitsubishi Corporation (MC) has acquired 10% interest in Utech Solar Corporation (Utech), a manufacturer of solar grade silicon wafers and subsidiary of Taiwan’s Gintech Energy Corporation (Gintech), itself a major solar cell producer.
 
Utech was established at the end of December, 2010 and has an operating capital of approximately 6.2 billion JPY (220 million NTD). The company’s plant is currently under construction, with production slated to begin in July, 2011.  Capacity during Phase 1 will be 330,000 kw, but this is expected to reach 1 million kw in the future.  
 
Utech mainly employs polisilicon in the production of its wafers. MC’s Chemicals Group is looking to leverage this investment to strengthen its own polisilicon, silicon wafer, and solar cell businesses.
 
Taiwan trials only China as a production base for solar cell related materials. With many engineers experienced in liquid crystal displays, semiconductors, advanced manufacturing technologies and management know-how, Taiwan continues to be a world leader in silicon wafer and solar cell manufacturing.
 
The global solar cell market has been growing rapidly. In addition to well-established industries in the US, Japan, Germany, Italy and other European countries, market expansion is underway in China, India and elsewhere in Southeast Asia. There are several types of solar cells, but polisilicon-based wafers constitute more than 70% of the global market. Existing polisilicon manufacturers have been stepping up production, and with more and more manufacturers entering the market from Korea and China too, costs are expected to drop in line with the increased supply. As a result, there will likely be greater market proliferation of products utilizing silicon crystalline technologies in the future.
 
【Utech】
Company name    :          Utech Solar Corporation
Location                 :          Taiwan Taipei (head office)、Taiwan Miaoli (plant)
Founded                :          December/ 2010
Operations            :          Manufacturing and selling of solar grade wafers
Capacity                :          330MW/year
Capital                   :          Approx. 6.2 billion JPY (NTD220 million)

 
【Gintech】
Company name   :          Gintech Energy Corporation
Location                :           Taiwan Jhunan (head office、plant)
Founded                :           August/ 2005 (Noverber/2007 Taiwan IPO)
Operations            :           Manufacturing and selling of solar cell and solar module
Capital                   :           Approx. 8.8 billion yen (NTD 3.18 billion)
Capacity                :            930MW/year (actual production in 2010 is 827MW), expansion to  
                                              1.5GW in 2011.

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