The EU-China price undertaking designed to settle the long-running anti-dumping investigation will “fundamentally change the game”, according to German solar manufacturer Centrosolar.
In the company’s results statement for the first half of 2013, it predicts that the benefits of the deal could take some time to be felt however.
“Centrosolar believes that the anti-dumping measures adopted by the EU on 6 August 2013 are likely to fundamentally change the game,” it said.
“Although the minimum prices do not fully compensate for the extent of dumping revealed by the EU Commission, they are nevertheless expected to alleviate substantially the previous pressure on prices.
“The measures are not expected to have an immediate effect because inventories imported duty-free into the EU prior to the introduction of the anti-dumping measures are obviously still being cleared. Thereafter, however, Centrosolar expects to enjoy new sales opportunities,” the statement continued.
There is an element of doubt as to whether there is a backlog of Chinese inventory in the European market with some project developers claiming it has been hard to source stock.
UK project developer Lightsource Renewable Energy recently secured a major module order from Renesola.
“I think that period has been quite difficult for everybody, mainly because the Chinese manufacturers were not shipping to Europe,” Kareen Boutonnat, managing director of Lightsource told PV Tech. “It was difficult to get modules over, but overall we have managed to secure 130MW and we’re quite happy with that.”
Centrosolar announced figures largely in line with expectations.
First-half revenue came to €57.5 million (US$76.1 million), compared with €99.0 million (US$131.1 million) for the first half of 2012, a drop of 41.9 %.
The company cited falling prices as the major factor.