The Taiwan Semiconductor Manufacturing Company (TSMC) has announced plans to enter the solar cell production market.
Following the acquisition of a 21 per cent stake in US thin-film solar cell maker Stion, TSMC has positioned itself to begin development of next-generation solar products.
It made the move in order to capitalise on the Taiwanese government's push towards delivering a greater supply of energy from renewable sources, with the initiative being orchestrated by the company's green energy division under the leadership of TSMC`s former chief executive officer Rick Tsai.
Overall, the government is offering NT$25 billion (£503.7 million) in grants for companies looking to develop this technology for future use in the country.
Meanwhile, CENS.com recently reported that three of the largest manufacturers of LEDs in Taiwan - Tekcore, Genesis Photonics and Lextar Electronics - all recently took out multimillion pound loans to facilitate extensions to their production capacity.