Solar Frontier posts first positive quarterly results; sales hit US$833 million in 2012

Facebook
Twitter
LinkedIn
Reddit
Email

Solar Frontier strengthened its position as the closest thin-film PV module manufacturer competitor to First Solar in 2012, posting record revenue of US$833 million (JPY78.2 billion).

The Japanese CIS thin-film technology leader reported an 18.9% increase in sales for the full year. The company reduced its operating loss to JPY15.4 billion in 2012, a JPY13.4 billion reduction from the previous year.

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

Solar Frontier makes up the vast majority of Showa Shell Sekiyu’s Energy Solution Business segment.

Solar Frontier posted an operating income of 15.4 billion yen in 2012, up by 13.4 billion yen compared to the previous year. Significantly, the company reported a small operating income of JPY0.1 billion for the fourth quarter of 2012, the first time the company has reported positive quarterly operating income since starting manufacturing operations in 2010.

Showa Shell Sekiyu noted in its annual report that the company had been successful in expanding solar sales both in Japan and overseas in 2012, though highlighted that strong demand in Japan due to the new FiT was a key factor in its growth as its boosted its sales operations in the country.

Showa Shell Sekiyu noted that it had been one of two Japanese domestic module manufacturers to have been selected for 2,000 rooftop installations on Lawson's Japan-based stores in 2012.

The company also highlighted its success in overseas markets as Solar Frontiers CIS thin-film modules were used on PV projects by NRG Solar LLC and EDF Renewable Energy, formerly enXco in the US.

Production update

Showa Shell Sekiyu said that it experienced module ASP declines throughout 2012; however Solar Frontier was able to boost module efficiencies and lower production costs at its 900MW flagship Kunitomi plant.

The company had halted production at its smaller 60MW No.2 plant as the Kunitomi plant ramped capacity, also supporting cost reductions. Currently, No.2 plant is being considered as an advanced R&D facility for new products.

Solar Frontier is said to be producing in volume CIS modules with 13% conversion efficiencies.

Showa Shell Sekiyu also recognised ongoing R&D on CZTS thin-film solar modules, via its joint research with IBM Corporation, amongst others. According to the company its CZTS thin-film solar modules achieved a record conversion efficiency of 11.1%. The company is also working with Japan’s New Energy and Industrial Technology Development Organization (NEDO) as a future partner in a joint research project to further boost CZTS thin-film efficiencies.

In 2013, the company expects to further grow its solar business, though did not give guidance for its energy solution business.

The company is also building a presence in the downstream EPC and project development sector with partnerships in its domestic as well as overseas markets.
 

Read Next

Premium
June 30, 2025
Solargis CEO Marcel Suri explores three areas where new standards could help underpin greater efficiency, accuracy and market resilience.
June 30, 2025
Heliene has completed the sale of Section 45X Advanced Manufacturing Production Tax Credits in association with Minnesota-based U.S. Bank.
June 30, 2025
Eni subsidiary Plentiude has started operations at the northern block of its 330MW Renopool solar portfolio in Spain.
June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 30, 2025
The Spanish government has launched a €100 million (US$117 million) aid programme to help promote the recycling and reuse of materials from renewable energy projects.
June 30, 2025
US clean energy developer Clearway Energy Group has received corporate credit facilities over US$1 billion.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece