Tainergy, a Taiwanese PV cell maker, has raised funds of NTD 693 million to invest in new production lines in Vietnam. Once the production lines are built, Tainergy’s global capacity will reach 1GW.

Currently, Tainergy’s cell capacity includes the following: 300MW in Taiwan, 280MW in Kunshan, and 400MW in Vietnam, totaling 980MW. The fund raise this time will add another 200MW in Vietnam. Mass production is expected to begin in 4Q16, boosting the company’s global capacity to over 1GW.

Tainergy’s earnings after taxes is NTD 187 million in 1Q16, 6.99 times the NTD 2,674 million from the same period last year. Earnings per share is NTD 0.59. Tainergy indicated that despite lower cell prices in April compare to March, the company can maintain the same level of sales due to higher shipment in April and stronger prices in contrast to other Taiwanese and Chinese companies.