China Sunergy has updated its expectations for 2010, saying that it will have 400MW of crystalline-silicon solar-cell production capacity and 900MW of PV module capacity by the end of the year, with 500-550MW of the moduling online by the end of the third quarter.
The company also says that it anticipates gross margins will be 15-18%, prior to the completion of the acquisition of two module manufacturers–CEEG Shanghai and CEEG Nanjing–with conversion cost reducing to $0.20/watt by the end of the year, as production efficiencies continue to be realized.
The Nanjing-based firm announced in March the purchase of the two companies (both owned by the China Electric Equipment Group, which is controlled by Tingxiu Lu, chairman of China Sunergy) and said that the pair would bring an additional 470MW of combined capacity online by the end of 2010.
During its first-quarter financial results call on April 30, China Sunergy said it expected to hit margins in the 14-16% range in the second quarter, and to ship between 280MW and 350MW of modules over the course of 2010.
The company did not offer updated shipment guidance in the latest announcement, saying that it assumed demand would remain at “current expectations.”