Hyundai Heavy Industries (HHI) reported a decline in solar cell and PV module sales in the fourth quarter of 2014.
Hyundai reported fourth quarter 2014, Green Energy division sales of KRW76.9 billion (US$69.88 million), a 3.6% decline from the prior quarter and down 26.1% from the prior year period.
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The Green Energy division includes its c-Si cell and module operations as well as its wind turbine business within the division as well as PV inverters.
The company noted that apart from a decline in solar cell and PV module sales in the fourth quarter, its operating income had been affected by a fall in module prices in the fourth quarter.
Full-year sales within the Green Energy division were around KRW312.3 billion (US$248.1 million), relatively flat with sales of KRW320.4 billion in 2013.
HHI had reported shipments of solar cells and c-Si PV modules of 600MW in 2013 and 100MW of CIS thin-film modules, operating plants at full-capacity.