ECD maintains 1GW capacity target in 2012

Facebook
Twitter
LinkedIn
Reddit
Email

Energy Conversion Devices, Inc. has reiterated plans to reach 1GW of nominal production capacity of its flexible a-Si thin-film photovoltaics in 2010. Company executives also said in a conference call with financial analysts that they had added 60MW of nominal capacity in the last six months, bringing total capacity to 178MW. A new site had also been chosen to bring capacity up to 420MW in 2010.

ECD posted revenues for its second quarter of fiscal 2009 of US$103.1 million, compared to US$95.8 million from the first quarter and US$56.4 million in the second quarter of fiscal 2008. Solar product sales were US$97.3 millio, compared to US$89.5 million in the first quarter of fiscal 2009.

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

Despite acknowledgements that the company was not immune from the global economic downturn and tight credit markets that had seen order push-outs in recent months, executives guided full fiscal year revenues to reach between US$395 – US$440 million, with solar product sales reaching between US$375 – US$410 million.

ECD noted that its order backlog had increased by approximately US$400 million to reach US$2.4 billion. However, it was not clear whether the increase was based on take-or-pay contracts, due to an overall decline of approximately US$100 in such order backlogs on its balance sheets.

Executives remained bullish on demand for the second-half of the year as demand for BIPV and commercial rooftop installations in France and Italy are expected to grow, due to the favourable feed-in tariffs for such installations over land based projects in these countries.

In the U.S. ECD executives noted that the stimulus packages as well as a range of new legislation at the state level would boost demand for solar in the country by a substantial amount and that ECD expected to benefit from these positive actions.

ECD has approximately US$468 million in cash and short- and long-term investments and plans to meet capacity goals using these reserves and cash from future operations. 

Read Next

Premium
July 15, 2025
Virtual power plants are emerging as a potentially critical means of meeting the growing power demands from data centres in the US.
July 15, 2025
D.E. Shaw Renewable Investments (DESRI) has started construction at a 150MW solar-plus-storage project in the US state of New Mexico.
July 15, 2025
The US Department of Commerce (DoC) has initiated an investigation into the imports of polysilicon and its derivatives.
July 15, 2025
Indian renewable energy company SAEL Industries is developing a 5GW solar cell and 5GW module manufacturing facility in Greater Noida, Uttar Pradesh.
July 15, 2025
Greater policy clarity will be needed if Germany is realise its FPV potential, according to a report from Fraunhofer ISE.
July 15, 2025
Poland has awarded 1.6GW of solar PV in this year’s renewable energy auction, according to the country’s Energy Regulatory Office.

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