GET posts strong wafer sales in January; plans capacity expansion

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Taiwan-based wafer producer, Green Energy Technology (GET) reported increased sales in January 2015, up 16.7% on the previous month. 

GET saw sales of NT$1,538 million (US$48.77 million) in January 2015, compared to NT$1,318 million (US$41.1 million) in December, which was down from NT$1,460 million (US$46.79 million) in November 2014.

Capacity expansion

GET has been operating above 95% utilisation rates for over a year, with monthly sales trending higher than its slump in mid-2014 ahead of new US anti-dumping rulings. 

The company noted that the China Ministry of Industry and Information Technology (MIIT) had released in January further guidelines requiring Chinese PV manufacturers to meet cell efficiency targets of 17.5% for existing multicrystalline cell production lines and 18.5% for new production lines. 

As a result, GET noted that its recently introduced ‘V3’ wafer reaches cell efficiencies of 19% when produced with PERC (passivated emitter real cell) cell architectures. 

The company said it would be expanding capacity to met demand for higher efficiency wafers, but would do so with minimum capital expenditures (CapEx) via proprietary techniques. GET did not reveal further details within its financial statement. 

However, the company has recently noted hat it had 2GW of in-house ingot/wafer capacity and 700MW of capacity from strategic partnerships.

The wafering sector has been hit the hardest with chronic overcapacity in the past three years but continued strong demand, notably for high quality wafers is expected to trigger a new round of wafer capacity expansions. 

GCL-Poly, the largest multicrystalline wafer producer added 1GW of capacity in 2014, although few other producers added any meaningful capacity last year. 

Integrated PV manufacturers have focused capacity expansions on modules rather than solar cells and wafers in the past year, limiting the need for major CapEx investments. However, this had led to further imbalances in internal production with ingot/wafer production. 

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