AUO's US-Made Solar Solutions Ready, with 9 MW Solar Power Project in Pennsylvania School District Successfully Acquired

Published on Monday, 06 February 2012 22:09 Written by TradersHuddle Staff

HSINCHU, Taiwan, Feb. 6, 2012 /PRNewswire-Asia-FirstCall/ -- AU Optronics ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), the global leading display and solar solutions provider, today announced that it is ready to provide its customers with US-made solar solutions. The progress enriches AUO's global solar module capacity to span across Europe, America, and Asia. It also makes AUO one of the few international suppliers capable of offering US-made solar solutions. Further development in the US market has been marked by the acquisition of a 9 MW Solar Power Project in the Pennsylvania School District, which will be the largest solar power plant in Pennsylvania as well as one of the largest school district projects nationwide. AUO will continue to provide top-notch customized solar solutions to the U.S. customers.

"The US market is a very important solar market. AUO's high-efficiency and high-quality solar modules are not only widely acclaimed for their performance in the residential and commercial markets but have also successfully acquired large utility and government projects." said James Chen, Vice President of AUO Solar Business Group. "We continue to develop advanced technology and leverage our local services to provide US-made solar modules for utility, commercial and residential customers who expect the best high-efficiency solar products."    

AUO adopts the strategy of "Global Operation, Local Delivery" and is currently the Taiwanese PV player with the highest solar module capacity worldwide^(*).  Having achieved full capacity in its Czech plant, AUO utilized its exceptional skills in global operation and turned to the US market to provide its customers with US-made solar modules and customized services. AUO's solar modules have met American Federal Acquisition Regulation's BAA (Buy American Act) and TAA (Trade Agreements Act). AUO's high-efficiency and high-quality solar modules have been also listed in CEC (California Energy Commission). By offering its stable and reliable solar products, AUO will engage itself actively in the US solar market for even greater presence.

The area of the Pennsylvanian solar power project AUO obtained recently is around 62 acres, equivalent to 87 football fields. The project is the largest solar power plant in Pennsylvania and also one of the largest among American school districts. By using AUO's 37,500 pieces of high-efficiency solar modules, the solar power plant is expected to be completed in September, 2012. The power plant will generate 10,880,000 kWh of electricity annually for the daily use of approximately 5,000 students in 5 schools nearby.  Approximately 6,663 tons of CO2 emissions could be reduced.

*Based on available market research information as of Feb. 7, 2012.

ABOUT AU OPTRONICS

AU Optronics Corp. (AUO) is one of the world's leading providers of display and solar total solutions. AUO offers a full range of panel sizes and comprehensive applications ranging from 1.2 inches to 71 inches. Based on its profound R&D and manufacturing experience, AUO continues to develop advanced display technologies of the next generation. AUO extended its market to the green energy industry in 2008.  By building a vertically integrated high-efficiency solar value chain, AUO provides its customers with high-efficiency solar solutions. AUO now houses a staff of more than 43,000 employees, with global operations in Taiwan, Mainland China, the U.S., Japan, South Korea, Singapore, the Netherlands, Czech and Slovakia. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO has also been named to Dow Jones Sustainability World Index for two consecutive years from 2010 to 2011.  AUO generated NT$379.7 billion (US$ 12.54 billion) in sales revenue in 2011. For more information, please visit AUO.com.

* 2011 year end revenue converted at an exchange rate of NTD30.27:USD1.

ABOUT AUO Solar Business

AUO Solar Business combined M.Setek, AUO crystal, and AUO SunPower to form a high-efficiency vertical solar value chain from polysilicon, ingot, wafer, solar cell, PV module and Project business. AUO has successfully accomplished many large solar power plants projects in Europe, Asia and Africa. The company has three PV factories in Taiwan, China and Czech Republic and adopts "global operation, local delivery" model to provide worldwide customers total solar solutions. Website: AUOSOLAR.com

Safe Harbour Notice

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on May 3rd, 2011.

SOURCE AU Optronics Corporation