June 18 (Bloomberg) -- Tatung Group, a Taiwanese maker of electronics and home appliances, will form a joint venture for solar modules with Gintech Energy Corp.
Tatung will hold a 45 percent stake in Gintung Energy Corp., while Gintech, a solar-cell producer in Taiwan, will own 36 percent, Gintech and Tatung unit Green Energy Technology Inc. said today in an e-mailed statement. Remaining shareholders weren’t disclosed.
Green Energy’s module unit, Apollo Solar Energy Co., will be transferred into the new company.
The venture expects to almost double production capacity to 320 megawatts in the fourth quarter from 170 megawatts.
Green Energy will further manage the production of Gintech wafer unit Utech Solar Corp., which has 450 megawatts of capacity.
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