Green Energy Wins US$947 M. Order for Silicon Wafers

Taipei, Aug. 20, 2008 (CENS)--Green Energy Technology Inc., a Taiwanese supplier of silicon wafers for production of solar cells, has won a huge order for the products valued at US$947 million from several foreign clients, and is scheduled to start filling the orders next year, according to company sources.

With the new order, Green Energy has landed three such big orders for silicon wafers worth US$2.5 billion this year. The three orders will reportedly take Green Energy nine years to fill and contribute about US$270 million a year on average to the firm's revenue during the span. To handle these orders, Green Energy has signed several supplying contracts with other companies for stable supply of polysilicon.

At the moment, Green Energy is Taiwan's largest and one of the world's top-five suppliers of silicon wafers. The firm scored a shining EPS (earning per share) of NT$2.9, and posted sales revenue of NT$810 million in July. The company's sales revenue has aggregated NT$5.017 billion for the first seven months of this year, up 132.5% from a year earlier.

Green Energy noted its business operations have grown stably due mainly to strong demand for silicon wafers in recent years, adding it has stepped up building production lines of thin-film solar cells and will officially debut its first thin-film solar cell in September. The new product is expected to infuse growth momentum into its sales in the future.

As China has been heavily encouraging use of energy-saving products such as solar cells, Green Energy, with help of its parent company Tatung Co., has actively focused its operations in the market to cash in on the great sales potential. Accordingly, Green Energy has acquired 200 hectares of land and planned to turn out 1,000 megawatt of solar cells in China, in addition to cooperating with local large-sized makers in the line to accelerate its business deployment in the country.