Gintech (Thailand) will invest approximately US$45 million in the first phase to acquire land, facility and equipment. It is projected to be operational by late 2015 and commence commercial production in Q1 2016. Gintech (Thailand) has been granted the maximum support by the Thailand government.

“We are proud to be the first Taiwanese solar supplier to invest in Thailand. By diversifying our production capacity geographically, we are further leveraging our resources and enhancing our competitiveness,” commented Pan Wen-yen, Chairman and Chief Executive Officer of Gintech Energy.

“We expect Gintech (Thailand) to be profitable when it reaches full utilization, given Thailand’s lower labor, land and facility costs and favorable investment environment, while the average selling prices of cells made in Thailand are currently more than 20 percent higher than the prevailing market prices of cells made in China and Taiwan due to trade barriers.” added Pan Wen-yen.

In addition, Pan Wen-whe, President and Chief Operation Officer of Gintech Energy, also commented: “Thailand continues to support the growth of the renewable energy industry and is an ideal base to serve other emerging markets in the Asia Pacific region. We look forward to creating jobs and helping develop the PV market in Thailand.”