GCL-Poly claims polysilicon cost down to US$22.5 per kilogram; wafer capacity to hit 6.5GW

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Having ramped its polysilicon production capacity from 18,000MT by the end of 2009 to 21,000MT by end of 2010, GCL-Poly claims its polysilicon production costs are down to US$22.5 per kilogram, making it one if not the lowest-cost producer of the product. GCL’s average production cost for wafers in 2010 was reported to be US$0.57/W.

Annual solar wafer production capacity reached 3.5GW at the end of 2010, while production reached 1.4GW. On a nominal capacity basis, GCL is one of the largest in the industry, just a year after entering production and expanding capacity via its acquisition of Konca Solar in December 2009.

GCL reported polysilicon shipments for 2010 of 10,507MT, while wafer sales reached 1,451MW in volume. Revenue was reported at HK$14,043.3 million for the year.

In 2009, GCL Solar had revenue of HK$3,177.3 million from 5,675MT of polysilicon and 46.4MW of wafers sold.

The average selling prices of polysilicon and wafers were approximately HK$408.6 (US$52.1) per kilogram and HK$6.32 (US$0.82) per watt, respectively. The yield rate for wafer production was said to have reached 95%.

The group’s net profit attributable for 2010 was HK$4,023.6 million compared with a loss of HK$199.7 million in 2009.

The company noted that GCL-Poly’s aggregate long-term wafer supply contracts for the period of 2011 to 2016 have exceeded 50GW.

GCL also established a solar power investment team in May 2010 for solar farm projects in the United States, Europe, and emerging markets. The company said that installed capacity was 6MW during 2010, with pipeline projects of approximately 2GW. Wells Fargo is the financial partner in the U.S.

GCL expects gave polysilicon production capacity to reach 46,000MT by end of 2011 and polysilicon output to reach 31,000MT. Polysilicon production costs are targeted to reach approximately US$20 per kilogram by the end of 2011.

New wafer facilities in Yangzhou, Taicang, Quanzhou, and Henan will be built to support its customer’s module manufacturing expansion plans in 2011. Wafer production capacity would be ramped up to 6.5GW and wafer output is expected to reach 5.5GW by the end of the year.

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