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First quarter revenue and shipments at Hanwha SolarOne increased sequentially, adding to a growing theme that low-cost PV manufacturers can still find customers, despite weak demand. Total net revenues were US$335.2 million, an increase of 3.9% from 4Q10 and an increase of 48.7% from 1Q10. PV module shipments, including module processing services, reached 248.5 MW, an increase of 13.6% from 218.8 MW in 4Q10 and an increase of 65.0% from 1Q10. However, ASP declines and slightly higher material costs resulted in gross margins falling to 16.3% down from 20.3% in 4Q10.
A must for PV installations located in coastal regions, aleo solar’s S_18 module has passed the most stringent salt spray test, which was certified by SGS Société Générale de Surveillance SA. Certification from this independent body is based on IEC 61701:1995 / DIN EN 61701:2000-8, though is a voluntary quality test.
PV module inventory levels have ballooned to record levels, according to market research firm IMS Research. An incredible 8GW of modules are said to be in the supply chain, while a further 2GW is sitting in PV manufacturer warehouses, waiting to be shipped. The global PV industry has been hit by weak demand across key European markets such as Germany and Italy, while feed-in tariff reviews in Italy and UK have also contributed to lacklustre installation figures that have lasted until May. Inventory levels at manufacturers, distributors, integrators, and installers have all climbed during the first half of 2011, according to the analysts.
With its shift from cell producer to module producer virtually complete, China Sunergy produced first-quarter 2011 results in line with the fourth quarter of 2010, except in relation to higher inventory and falling module prices. Net income crashed 77.3% to US$3.5 million compared to the previous quarter net income of US$15.4 million. Revenue increased to US$165.7 million, a 58.9% increase year-on-year over Q1 2010 but a slight decrease of 2.3% over the fourth quarter of 2010.
BRE Global and TÜV Rheinland will be working together for access to the UK Microgeneration Certification Scheme (MCS) for PV system manufacturers under their newly executed memorandum of understanding (MOU). MCS, a UK-based program, certifies microgeneration technologies under vigorous criteria. Through the companies signed MOU, PV panel manufacturers who use TÜV Rheinland for testing and certification to apply for MCS approval through BRE Global. Ultimately, the MOU will see TÜV Rheinland oversee that testing and factory inspection, while BRE Global finalizes that quality review for the UK market.
LDK Solar is sticking to its previous financial guidance, issued on April 26, for both the first-quarter and the full-year 2011, seeing quarterly revenues in the $745 million to $755 million range (down from Q4 2010’s $920.9 million) and annual sales between $3.5 billion and $3.7 billion (up from 2010’s $2.5 billion). The vertically integrated solar manufacturer also holds to its forecast of wafer shipments coming in at 625-635MW for the quarter and 2.7-2.9GW for the year.
The stalled Italian PV market had a noticeable effect on Yingli Green’s figures for the first quarter. Module shipments decreased by a low teen percentage from Q4 2010 with revenue reported for Q1 2011 at US$527.3 million, compared to US$616.1 million in Q4 2010. Gross profit was US$144.1 million, representing a gross margin of 27.3% and an operating margin of 16.5%. However, Yingli expects shipments to increase by more than 30% in Q2 and reiterated previous guidance of module shipments of between 1.7 and 1.75GW in 2011.
Several PV manufacturers are establishing module assembly plants in Ontario, Canada to benefit from local content rules, including China-based Canadian Solar. KUKA Systems North America has also benefited from the local content rules with the announcement that the robotics specialist has been contracted to the tune of US$12 million. KUKA will be installing three partially automated, post-lamination framing lines for trimming, framing, testing and packout of photovoltaic panels. The installation began in the first quarter of 2011, according to KUKA.
China’s ET Solar has doubled the length of its module warranty. Under the terms of the new product commitment, which came into force at the start of May, ET Solar has extended its coverage for defects relating to workmanship and material quality from five to 10 years.
Siliken celebrated the ribbon cutting of its new 50MW solar module production facility in Ontario with government and company officials on hand to commemorate the site’s grand opening. This is the second North American manufacturing facility that Siliken has opened, following its San Diego, California, site, which was initiated in 2008.
