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SAS and Cathay Life Insurance to Establish a New Solar Energy Joint Venture
By Korbin Lan
Published: Oct 03,2016
TAIPEI, Taiwan - Taiwan’s Sino-American Silicon Products Inc(SAS) handed with Cathay Life Insurance Co., Ltd., a leading brand in the life insurance market in Taiwan, to setup a new joint venture to increase the investment of solar power plants. The two said to expand capital, construction and operation of solar power stations in Taiwan.
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SAS is one of the major suppliers in the Taiwan’s solar energy industry, and Cathay Life Insurance is committed to the development of renewable energy finance and optimistic about the prospects of Taiwan's solar energy industry.
The capitalization of this new joint venture was set at NT$3.5 billion, which will be financed in two phases. The first phase is expected to invest NT$1.5 billion, and SAS will invest NT$450 million. The second phase of investment, the two sides will review the result of implement in the first phase then schedule their investment time.
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