Contract chip manufacturer, Taiwan Semiconductor Manufacturing Company (TSMC), has planned to construct its first solar cell plant by the end of 2010. The company’s board of directors has approved a sum of US$218 million for this new project.
According to a TSMC representative, the investment on the new solar cell factory will not impact the company’s capital expenditure plan for 2010. TSMC has assigned $100 million for a number of new ventures, including the solar and $5.8 billion for the chip division.
In recent years, TSMC has extended its business into the clean energy technology. For instance, the company has planned to construct a LED research center and factory in Taiwan. In 2009, the company acquired 20% stake in Taiwan-based solar cell manufacturer, Motech Industries.
In addition, TSMC has also signed a technology and supply agreement with a PV modules manufacturer, Stion. Under that agreement, TMSC will produce the solar cell modules for Stion, and both the companies will collaborate to develop Stion’s technology.