Walsin Lihwa on Oct 28 signed an investment cooperation agreement with Solarion AG, a Germany-based solar cell and module company in Leipzig. Under the agreement, the two companies will jointly produce CIGS thin-film solar cells and develop next generation solar energy technologies.

Walsin Lihwa, via its wholly owned subsidiary Ally Energy, will invest 40 million euros (US$55.58 million) in Solarion and acquire a 49% stake as well as Solarion's CIGS technology patent licensing. The cooperation also received more than 20 million euros in government subsidies.

Solarion, a company specializing in solar cells and solar modules, has a number of advanced CIGS solar technologies and related patents. Walsin Lihwa and Solarion will set up a new solar cell and module plant in 2011 in Leipzig for CIGS thin-film product production. It will have an initial capacity of 20MW and up to 200MW eventually. The patent licenses that Walsin Lihwa obtained will enable the company to independently manufacture and sell CIGS solar products.