Neo Solar Power doubling c-Si solar cell capacity on outsourcing demand from Europe

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Taiwan-based c-Si solar cell producer, Neo Solar Power (NSP) is expanding annual capacity to 800MW in response to continued outsourcing demand from Europe. NSP currently has an annual capacity of over 240MW. The cell producer had already made initial plans to boost capacity by a further 180MW by the second quarter of 2010, due to running at full capacity in the fourth quarter of 2009. Strong demand and extended visibility into it 2010 order flow pushed NSP to raise capacity plans to 600MW in 2010. However, continued demand from European module manufacturers has led NSP to take capacity to 800MW in 2010.

Capital expenditure for the previously planned 360MW expansion to 600MW capacity was said to NT$2.7 billion (US$84.5 million). The extra 200MW will likely require an additional expenditure of NT$1.4 billion (US$43.8 million, the company said. The capacity expansions are taking place at NSP’s FAB 2 facility in Hsinchu Science Park, Taiwan. FAB 2 has a nameplate capacity of 680MW.

NSP posted revenue of NT$1.879 million (US$58.8 million) in the first two months of 2010, a 51% increase of the same period a year ago. Shipments reached over 200MW in 2009 and guided shipments of between 400 and 500MW in 2010.

The company is also targeting average conversion efficiencies for 2010 of 17.2% for multi-crystalline solar cells and 18.5% for mono-crystalline solar cells.

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