President Chao Ying-chen for TSMC Solar, a CIGS thin-film PV module maker wholly owned by Taiwan Semiconductor Manufacturing Company (TSMC), reportedly will resign in October, according to PV industry sources in Taiwan. In response, TSMC declined to comment.

TSMC invested US$50 million for a 21% stake in US-based Stion and was licensed to use Stion's CIGS technology in 2010. It established TSMC Solar with initial paid-in capital of NT$11 billion (US$367 million) in 2011.

TSMC Solar plans to expand its annual production capacity from 40MWp to 120MWp in 2014, the sources indicated, adding TSMC Solar has attained laboratory CIGS energy conversion rates of over 19%.

While there are many Taiwan-based crystalline silicon solar cell makers, TSMC Solar is the only one making CIGS thin-film PV modules, the sources indicated.