AU Optronics’s M.Setek Unit to Stop Making Polysilicon for Solar

now viewing

AU Optronics’s M.Setek Unit to Stop Making Polysilicon for Solar

January 12, 2016 Anand Gupta

now playing

Fitch Ratings affirms Clean Renewable Power's USD 363 mn notes 'BB-' rating with stable outlook - EQ

January 12, 2016 Anand Gupta

now playing

Vedanta’s Hindustan Zinc Becomes the 3rd Largest Producer of Silver Globally - EQ

January 12, 2016 Anand Gupta

REIL Floated Tender For 200 KW Solar Power Plant At Titardi, Udaipur

now playing

REIL Issue Tender for For Selection of Charge Point Operator (CPO) For Supply of of EV Charging Equipment for Period of 10 Years for Setting up of EV Charging Stations In New Delhi - EQ

January 12, 2016 Anand Gupta

AP-bets-on-renewable-energy-to-meet-goals

now playing

EIB provides €150M in financing for renewable energy investment in Bhutan - EQ

January 12, 2016 Anand Gupta

NTPC to invest Rs 10,300 cr in greenfield thermal and solar plants in UP

now playing

NTPC Green Energy inks pact with Indus Towers to develop renewable energy projects - EQ

January 12, 2016 Anand Gupta

now playing

SJVN Green Energy incorporates JV named SGEL Assam Renewable Energy - EQ

January 12, 2016 Anand Gupta

now playing

MG Motor, Epsilon tie up for EV charging solutions, battery recycling - EQ

January 12, 2016 Anand Gupta

ADB to Expand Support for Turkmenistan — ADB Vice-President

now playing

New Zealand Commits $25 Million for ADB’s Energy Transition Mechanism - EQ

January 12, 2016 Anand Gupta

now playing

Sineng Unveils Extensive Portfolio of PV+ESS Solutions at WFES, Empowering MENA’s Green Transition - EQ

January 12, 2016 Anand Gupta

now playing

Avaada Energy inks Rs 4,471-cr refinancing pact with NaBFID for four solar projects in Rajasthan - EQ

January 12, 2016 Anand Gupta

M.Setek Co., a Tokyo-based unit of the electronics maker AU Optronics Corp. of Taiwan, will halt production of polysilicon for the solar industry and take a charge of 24.65 billion yen ($208 million) to write down assets.The board decision was made because of changes to supply and demand in the market that left M.Setek without a competitive advantage, AU Optronics said in a statement to the Taiwan stock exchange Friday. M.Setek will focus on production of ingots.

Polysilicon prices have plunged 83 percent in the past five years, as larger manufacturers brought on capacity to feed the booming market for photovoltaic panels. M.Setek didn’t rank among the top 10 makers of polysilicon, which is the raw material used to make most PV panels, according to data compiled by Bloomberg.“No volume polysilicon production by AUO was tracked during the past couple of years, so this announcement is not surprising,” said Wang Xiaoting, a Hong-Kong based analyst for Bloomberg New Energy Finance.

Polysilicon manufacturing is dominated by bigger producers led by GCL-Poly Energy Holdings Ltd. of Hong Kong, Wacker Chemie AG of Germany, OCI Co. Ltd. of South Korea and Hemlock Semiconductor Corp. in the U.S.An official at M.Setek’s plant in Fukushima prefecture in northern Japan could not immediately comment. AUO, based in Taiwan, holds 99.99 percent in M.Setek.“More than 20 percent oversupply of polysilicon occurred in 2015, which was the intrinsic reason of a 30 percent drop of spot price over the year,” Wang said by e-mail. “A polysilicon glut is still anticipated for the new year and some expansion plans especially those in China have been suspended.”