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United Renewable Energy Plans US Solar JV With Sino-American Silicon; Shares Up 4%

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United Renewable Energy (TPE:3576) is contemplating a joint venture in the US with Sino-American Silicon Products, with an investment of no more than $11.8 million, according to a Tuesday filing with the Taiwan Exchange.

The solar cell and module maker will hold a 49% stake in the joint venture, which will focus on the manufacture and sale of solar modules in the US.

The investment will be funded through internal funds.

Shares of the solar cell and module maker were up nearly 4% in recent trade.

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