After superb 2008, SOLON expects moderate growth in 2009

Facebook
Twitter
LinkedIn
Reddit
Email

According to its 2008 Annual Report, SOLON continues to be among the fastest growing solar companies in Germany, but due to an unstable market, is expecting moderate growth in 2009. 

While the company sees potential for further growth, the economic crisis creates a lack of predictability in terms of how much SOLON could potentially grow in 2009.  Since performance in the U.S. and southern Europe cannot be estimated clearly, SOLON has decided not to make public any fiscal targets until later in the year.  

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In terms of 2008, revenues improved by 62% to €815.1 million, with the System Technology segment responsible for 55%.  The company experienced a production increase of 49% at 176MWp, with the total operating performance increasing by 70% to €875.3 million.  SOLON earned €60 million before interest and taxes, up from €35.2 in 2007.  Earnings per share went up from €2.16 to €2.46.  The company, as a whole, increased those employed from 706 to 943.  While the company has presence in over 20 countries, the majority of the revenue in 2008 was made in Spain and Italy.

The Spanish market became the largest for the first and possible last time as PV installations topped 2.5GW in 2008, before the Spanish Government imposed a 500MW cap and refocused FiT’s to rooftops and away from large-scale solar energy plants.

Although recent market projections point to further rapid growth in Italy, potentially reaching nearly 1GW of installations for 2009, the hole left by Spain could prove difficult to fill and would seem to affect SOLON’s ability to grow at similar rates seen in 2008.

Read Next

July 3, 2025
Renewable energy curtailment in Brazil is set to reach 8% across the country, and be as high as 11% in the north-east, by 2035.
July 3, 2025
Spanish IPP Zelestra has secured a €235 million (US$277 million) increase to its sustainability-linked loan, bringing the total to €770 million.
July 3, 2025
US tracker manufacturer GameChange Solar has introduced the Genius Tracker TF, a new terrain-following solar tracker system designed to deliver “the industry’s lowest grading requirement on challenging terrain.” 
Premium
July 3, 2025
Meeting the UK’s solar targets will not simply require the installation of new capacity, but investment in grid infrastructure and training.
July 3, 2025
TotalEnergies has expanded its renewables assets in the Caribbean, sold a stake in projects in Portugal and begun construction on two PV parks in Spain.
July 3, 2025
Malaysian engineering and infrastructure giant Gamuda has expanded its presence in the Australian renewables sector by partnering with Tasmanian landowners to build a 1.2GW portfolio, which includes solar PV.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK