Taipei, June 1 (CNA) Cheng Uei Precision Industry Co. Ltd., an electronics component supplier, said Friday it will enter the solar energy business to tap into the growing "green energy" market at home and abroad.
Cheng Uei, known also by its brand name Foxlink, will engage in the production of solar power generation equipment for roofs through subsidiary Shinfox Corp. in response to the government's call to develop renewable energy, said Cheng Uei Chairman T.C. Gou, a younger brother of Hon Hai Group Chairman Terry Gou.
T.C. Gou said Shinfox will work with National Yunlin University of Science and Technology in solar energy development, and the two also plan to team up on wind energy development in the future.
Shinfox President Wilson Hu said his company and the university will build a 1 megawatt solar power plant on campus with the ability to produce more than 1.3 million kilowatts per hour in electricity a year.
Hu said Shinfox and the university are scheduled to sign an agreement on the project on June 12.
Shinfox is a power management service provider to the electricity industry, specializing in smart grid solutions featuring products for grid infrastructure, such as smart meters and wireless control equipment, according to Cheng Uei's website.
Hu said Shinfox has worked with a Chinese partner in wind power development on the mainland and aims to set up wind power generation facilities in Taiwan in the future.
He said in addition to the power generation business, Shinfox will cooperate with local department stores, hospitals and shopping malls to develop means to cut carbon emissions and improve energy efficiency.
Cheng Uei is gearing up to diversify its business from connector production to consumer electronics distribution. The company operates a Studio A chain to sell Apple's gadgets in Asia, including Taiwan, China and Hong Kong.
(By Han Ting-ting and Frances Huang)