Motech Industries and Topcell Solar International Co., Ltd., have agreed to a merger. The merger of the two Taiwan-based companies is expected to create the world’s largest solar panel manufacturer.
Motech, based in Taiwan, has Motech Americas headquarters in New Castle, but according to published reports is no longer making solar cells in Delaware. Topcell is also based in Taiwan.
The Motech plant in Glasgow-Pencader rolled out panels for solar projects in the region, with some contracts requiring U.S.-built panels in public projects.
Motech came to Delaware after acquiring assets of G.E. Solar in Glasgow. GE had earlier gained certain assets of AstoPower, a solar cell company founded by a University of Delaware professor.
Motech has been dealing with “dumping” charges that led to the United States slapping tariffs on solar cells on claims that lower-priced Chinese solar cells were being shipped via Taiwan.
The tariffs led to fears that costs of solar panels in the U.S. would rise, reversing trends that were making the alternative power source more competitive with natural gas and coal. It has also led to merger activity.
The combined entity will have three gigawatts of production capacity or more than four times the annual generation capacity of the Calpine Edgemoor natural gas-fired power plant near Wilmington.
“Motech, post the merger, will have a solid shareholder base, sound corporate governance, healthy financial structure and excellent human resource and devote to promoting renewable energy development to fulfill our promise and commitment for corporate social responsibility and comprehensive business sustainability,” Motech stated in a release.
Motech Industries, Inc. was founded in 1981 as a designer and manufacturer of test and measurement instruments. The company launched solar cell production in 1999.
Click here for a story on the merger from the China Post.
