Taiwanese leading fabless chipmaker TSMC (Taiwan Semiconductor Manufacturing Company) announced on August 11 that the company plans to expand its investment in the solar energy business, Taiwan's China Times reported on August 12. The initial investment is valued at around NT$1.65 billion (US$50.1 million; US$1 = NT$32.9). Further details of the plan were not yet disclosed though. Meanwhile, TSMC reportedly eyes a stake in Taiwanese solar cell maker Neo Solar Power owned by Powerchip. TSMC and Powerchip, however, declined to comment on the matter. At the company's board meeting, the company also gave a nod to allocate a budget of around US$1.1 billion to expand 45nm process capacity and install 32nm process capacity, according to the same source.