Boston, MA 04/08/2014 (wallstreetpr) – AU Optronics Corp. (ADR) (NYSE:AUO) is a $3.38 billion company involved in the manufacturing of flat panel displays and solar cells. Shares of the company have been active in recent times. The excitement in the stock can be linked to the company’s increasing interest in solar energy business which currently has very positive outlook.
The company announced that its entry into solar plant operations through a joint venture. It announced teaming up with several Taiwan insurance companies to create Star River Energy Corporation. The joint venture company will be dedicated to investment in power plants and management of the same in Taiwan.
Investing in solar power generation is expected to help AU Optronics Corp. (ADR) (NYSE:AUO) and its peers to benefit from the positive outlook in the renewable energy sector. Furthermore, the company believes that through Star River it will be able to reduce its carbon footprint.
Opening up more opportunities
AU Optronics Corp. (ADR) (NYSE:AUO) boasts a team that is capable of proving full solar power installation solution. Thus, founding of Star River will enable the company to not only showcase its superior technology and talent in harnessing of solar power, but also generate interest in its solar harnessing products. The company said that its rooftop business Sungen will be sold to Star River. Sungen is billed as Taiwan’s largest rooftop provider with current capacity of 13.3 megawatts. The intention is to raise the capacity of the project to 20 megawatts.
To sum up
AU Optronics Corp. (ADR) (NYSE:AUO) and its insurance partners jointly involved in the founding and funding of Star River have already raised NT$540 million towards the project. The stake of AUO in the project is 35 percent. The insurance investors have been drawn into joint solar power venture due to company’s capabilities to operate a reliable power plant.
If you are looking for investment in renewable energy, now you know AU Optronics Corp. (ADR) (NYSE:AUO) presents an opportunity to realize not only solid gains, but long-term benefits.
