Nuying Huang, Taipei; Jackie Chang

 

Foxconn (Hon Hai Precision Industry) plans to enter the solar market through cooperation with China-based GCL-Poly. Rumors of delayed cooperation have been circulating in the market but GCL-Poly has denied such rumors and indicated the cooperation is on schedule. The two firms plan to set up a joint venture 500MW solar power plant. The plan is currently awaiting approval.

Under the cooperation plans GCL-Poly will be responsible for polysilicon, solar wafers, engineering, procurement and construction (EPC) while Foxconn will cover cost control and the production of solar cells and modules.

According to industry sources, market conditions have been gloomy, hence any firm looking to enter the market needs to be much more careful. In addition, market forecasts are unclear for 2012.