LOS ANGELES, USA: Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chip maker, will invest $50 million to take a 21 percent stake in U.S.-based solar start-up, Stion Corp, the companies said on Wednesday.
Stion, which makes thin-film solar modules, will license and transfer its technology to TSMC, which in turn will provide modules to Stion. Under the deal, the companies will also develop technology together.
Thin-film solar panels tend to be less efficient at turning sunlight into electricity than traditional silicon-based modules, though several companies specialize in thin-film technology, including the industry leader First Solar Inc.
TSMC's bet on solar follows a move in May by Taiwan's AU Optronics Corp, which agreed to set up a $700 million venture with U.S.-based SunPower Corp