Taiwan based solar cell and module manufacturer Neo Solar Power Corporation (NSP) has completed the sale of its Zhunan FAB to Maxchip Electronics for NT$1,252m ($41m).
In 2013, NSP acquired Zhun an FAB facility following its merger with DelSolar and it was used for the production of multicrystalline solar cells and modules.
The sale of the facility will enable NSP to exit multicrystalline solar cell business and focus on producing monocrystalline PERC products to reduce the operating expenses and activate idle assets.
The facility, that secured leadership in energy and environmental design – new construction (LEED-NC) from US Green Building Council, was sold through an open bidding process.
The FAB consists of adequate facilities that will enable the buyer to commence production. The buyer will benefit from the land leasing advantage of the Zhunan Science Park.
Post the sale of Zhunan FAB, the manufacturing sites of NSP, that will produce high efficiency solar cells and modules, will be centralized in Hsinchu Science Park and Tainan Technology Industrial Park.
The transaction is expected to help NSP in strengthening the balance sheet to accelerate benefits from the transformation of the business.
NSP, founded in 2005 by Quincy Lin and Sam Hong, has over 2400 employees and is listed on the Taiwan Stock Exchange.