The factory will have 3.4-gigawatt (GW) capacity, with an initial phase of 400 megawatts (MW) to be completed by the first half of next year, company spokesman Gary Yang said in an interview.
Bloomberg added that Neo Solars board approved a plan to raise NT$4.69 billion in a share sale on August 16. Part of the proceeds will be used for the Tainan plant, explained Yang. He added that the Taiwanese company also has two photovoltaics cell production plants in Hsinchu, with a total capacity of 800 MW annually.
The manufacturer of solar cells has reportedly gained about 60 percent in the stock market in the last three months.