Wafer manufacturer, Green Energy Technology (GET), has said that its PV module manufacturing subsidiary, Apollo Solar Energy, is to expand production.
In a statement ahead of this week’s PV technical conference and exhibition in Taipei, Taiwan International Photovoltaic Exhibition (PV Taiwan 2013), GET said that Apollo Solar Energy would expand module production from around 120MW annually to around 360MW by the end of 2014.
GET noted that module assembly equipment would be leased rather than acquired, limiting expenditure for the expansion to around US$11.2 million.
The leasing deal highlights PV manufacturers' cautious approach to expansion plans and capital expenditure, while highlighting that it remains a buyers' market for equipment.
Apollo Solar Energy has provided modules on an OEM basis as well as supplying directly to end markets in the US and Japan.