TSMC to invest $194.5 mn in Motech

TAIPEI: Shareholders of Motech Industries, the solar-cell maker based in Taiwan, have approved a private placement plan to raise additional capital by making Taiwan Semiconductor Manufacturing Company (TSMC) as the biggest corporate shareholder of the company.

The investment by Taiwan Semiconductor Manufacturing Company comes to a total of NT$6.23 billion (US $194.5 million). This investment, according to industry sources, is expected to enable Motech Industries to expand its annual capacity to 1GWp in 2010.

In a statement, the shareholders of Motech Industries also approved a plan to invest an extra amount of US $9 million in Motech (Suzhou) Renewable Energy, Motech Industries’ subsidiary based in China.