Bucking the general trend for the first quarter of 2009, SolarWorld AG has reported Group sales increased by 5.2% to €176.3 million, compared to €167.5 million in the same period of 2008. However revenue was down significantly from 4Q08, which was €234.9 million. SolarWorld saw sales increase in all regions, except Spain.
“With our complete added value creation from silicon to the quality module of the SolarWorld brand we have selected the right strategy”, commented Frank H. Asbeck Chairman and CEO of SolarWorld AG. “In addition our cost structure allows us to essentially compensate for the price reduction that our competitors are struggling with and to actively accompany the solar power price on its way to grid parity.”
SolarWorld AG has also confirmed that production expansion plans are ongoing in 2009. The company expects to have a topping out ceremony for its new wafer production facility in Freiberg next week. When production starts in early 2010, SolarWorld said that capacity at Freiberg would reach 750MW by 2011 and 1GW in 2012. At the Freiberg site alone some 450 new jobs are being created.
The expansion of its Hillsboro, U.S. site is progressing according to plan and operational by year-end. Overall production is expected to increase by between 20 and 30% in 2010.