Neo Solar Power Corporation (NSP) has announced that it will join hands with Cathay Life Insurance to co-invest a new company to enlarge Taiwan Solar System Project investment.
The capital of this new co-invest company is planned to be NT$3.5 billion (US$110 million) with two phases capital injection. The first capital injection is NT$1.5 billion (US$47 million) and the second phase capital injection will be subject to phase one execution result. The exact investment amount and following company setup schedule will be subject to approval from Insurance Bureau of Taiwan Financial Supervisory Commission for Cathay Life Insurance Co. Ltd.
Investing in solar system projects promises higher and steady return than general financial instruments, and solar system projects can guarantee expected cash-flow for at least 20 years, which similar to fixed-income products. Besides, with support from Taiwan government on renewable energy recently, NSP decides to cooperate with Cathay Life Insurance to invest Taiwan Solar System Project.
NSP and NSP subsidiary, GES (General Energy Solutions Inc.) has fruitful result on solar system project development this year. The total under construction and COD system capacity is close to 200 MW, and planned system projects sold will close to 80 MW by the end of this year. Furthermore, the total system project pipeline so far is accumulated to 800 MW.