BP Solar saw a recovery in sales in the third quarter, reflecting a recovery in business BP reported in its latest quarterly results statement. Module sales in the quarter reached the equivalent of 73MW, compared with 47MW in the same period of last year.
BP Solar’s results were impacted by weaker margins, due to the collapse in prices throughout the supply chain as demand remains significantly out of balance with supply.
BP Solar has been shifting its business model away from heavy investments in production capacity, preferring to close older, now uncompetitive plants, while outsourcing production to third parties to reduce operating expenses.
The company is also pushing its project business, which could generate higher margins, especially in the current overcapacity environment, which is depressing prices and margins.