ReneSola Ltd.’s third-quarter financial results yielded quite an optimistic view of the company’s future. The vertically integrated Chinese wafer and cell manufacturer is looking to expand wafer production to 1GW (from 825MW); cell production to 360MW (from 120MW); and module production to 375MW (from 135MW).
Sanyo Electric has announced that with the European region improving its demand for solar panels, it will increase its solar panel production capacity in Europe by 90% or 315MW by next summer. Nikkei.com reports that the added production will be happening at the Sanyo Hungary facility using the space that has been released since the company ended the lithium ion battery pack production. The total investment for the additional panel production will be between two and three billion Yen.
Business is back and booming at major PV systems integrator Phoenix Solar. The German residential market is overheating as the race to complete installations by year-end intensifies. According to Phoenix Solar, there will not be enough inverters and solar modules available through to the end of the year to achieve its original revenue guidance.
aleo solar announced that its market share in Greece has increased to 16%. According to Hellenic Transmission System Operation, of the 38MW of PV power that have been connected to Greece’s national grid, aleo has supplied more than 6MW since 2007. Projects range from commercial, private and rooftop installations to large greenfield facilities.
Sino-American Silicon Products told Reuters.com that it expects its shipments to rise around 30% in 2010 as it sees that global market for solar power improving. Sino-American president Doris Hsu, told Reuters that the company is looking to raise cash by issuing shares and will see an increase in profit next year due to a higher demand for solar products, better wafer prices and lower raw material costs.
With the start of actual construction of Hemlock Semiconductor’s new polysilicon plant, located in Clarksville, Tennessee, the largest polysilicon producer in the world has revealed both the initial production capacity of the plant as well as its future capacity capability. Initial cost of the plant was said to be US$1.2 billion and will employ approximately 500 workers when ramped. Hemlock has announced investments totalling more than US$4 billion for expanding polysilicon production over the last few years in a drive that is expected to keep the company in its leadership position.
For the first nine months of 2009, aleo solar has posted revenue of €220.8 million. Even though this is a drop from the first nine months of 2008 (€256.2 million), the company is still hopeful that it will reach its planned sales targets. aleo also posted a positive EBIT of €0.3 million, which shows the trend reversal that the company achieved in the second quarter.
LDK Solar announced that upon its motion the Superior People’s Court in Jiangxi Province has issued a civil order halting any payment that may be made by the relevant guarantor/counter-guarantor banks pursuant to the guarantee and/or counter-guarantee issued in connection with the prepayments Q-Cells made that amassed to US $244.5 million under a solar wafer supply agreement with LDK Solar.
SAG Solarstrom has announced their third quarter results and posting strong numbers. Consolidated group sales over the first nine months totaled €76.5 million (previous year: €64 million), with sales of €44.8 million in the third quarter contributing to this increased number. The overall earnings before interest and tax (EBIT) figured amounted to €2 million, rising from the €1.1 million from the previous year. This increase also shows that the EBIT increased over nine months to €2.4 million from €2.1 million last year.
Continued overcapacity in the upstream supply chain that includes polysilicon, solar wafers and solar cells is resulting in continued price declines and uncertainty over 2010 market demand. As a result Q-Cells is planning to hold c-Si cell production at approximately 800MW in 2009 and grow nameplate capacity to 1.1GW in 2010, on provisional market expectations for next year. However, its CIGS thin film subsidiary is expected to increase nameplate capacity to 135MW and actually ship close to 100MW in 2010, signalling the maturity of the product and potential market penetration of the technology. Solibro was said to have shipped its first products to customers in the quarter.
