Neo Solar Power Raises Cell Capacity to 800 MW

Taiwanese solar cell manufacturer, Neo Solar Power (NSP) announced a capacity expansion plan of 200 megawatts (MW), increasing the company’s annual production capacity to 800 MW. The 200 MW expansion should be completed by the end of Q3 or early Q4, according to the company.

For the original 360 MW expansion plan, NSP had estimated a total capital expenditure of approximately NT $2.7 billion. The extra 200 MW will likely require an additional expenditure of NT $1.4 billion. The funding plan for the total capacity expansion is well prepared and backed by the company’s ample internal cash position of NT$4 billion at the end of 2009.

In addition, NSP plans to conduct the capital-raising through one of the three options approved by the Board, including equity offering, GDR issuing or the private placement.

The total capital raising is estimated to be approximately NT$3 billion and will take place concurrently with the syndication loan. However, the actual funding plan will be decided in accordance with the market conditions.

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