Solar wafer maker Green Energy Technology (GET) and cell maker Gintech Energy have announced the establishment of a PV module joint venture, Gintung Energy, with an initial paid-in capital of NT$370 million (US$12.3 million). GET and Gintech hold 45% and 36% of the stakes respectively.

Gintung will merge with Apollo Solar Energy, GET's PV module subsidiary, to become the surviving company and take over the latter's existing annual production capacity of 120MWp and Gintech's 50MWp. Then, Gintung will expand its annual capacity from 170MWp to 320MWp in third-quarter 2014, with Japan to be the target market initially.

Tatung, the parent company of GET, may offer space at its factories in Mexico and Czeck for Gintung to set up PV module production lines to tap the North America and Europe markets respectively.

In addition to cooperation in PV modules, GET will help Utech Solar, Gintech's subsidiary making solar wafers, procure materials to decrease cost.