US' SunEdison to Invest in Shinsung Solar Energy

Shinsung Solar Energy will make a paid-in capital increase in a third-party allocation for new investment. The total amount of investment is US$2 million by U.S.-based SunEdison, a leading solar energy company.

SunEdison, established in 1959, manufactures solar energy power plants, polysilicon, ingots, wafers, and modules. MEMC, which manufactured semiconductor wafers, changed the company name in 2013 to SunEdison to focus on the solar energy business. The company is now listed in the New York Stock Exchange.

This investment is part of both companies’ strategic cooperation relationship. Earlier, Shinsung Solar Energy signed a 3-year contract with SunEdison to supply 660MW solar cells in April 2014.