As part of the deal, both the companies will develop a new solar farm in the New York state in US.

The companies also agreed to promote cooperation in the field of IPP (independent power producer) project for solar power generation, as well as in EPC (engineer, procure, construct), O&M (operation and maintain), consults offering, exchanging related information and expertise.

American Jianye Greentech Holdings CEO Chu Li An said the new agreement will allow both the companies to increase production and sales.

"We believe that the marketing force and technology offered by Taiwan Solar Energy combined with the additional value of American Jianye will make us a leading proposition in the green tech field that is consistent with US government policy initiatives in the area of green technologies," Li An added.