SolarWorld has order backlog into Q4 of 350MW

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

SolarWorld reported third quarter results inline with its recent preliminary announcement but highlighted that its order backlog in the fourth quarter had reached 350MW with confirmed orders stretching into 2015. 

The key recovery in SolarWorld’s business has been the strong rebound in PV module sales since completing its major financial restructuring earlier in the year. In the first nine months of 2014 the company had raised PV module sales and to a lesser extent PV kits by 54% to 602MW, compared to only 390MW in the first nine months of 2013. 

Despite the shipment rebound the company reported an EBIT loss of €4.1 million (US$5.1 million) and a consolidated net loss of €8.6 million (US$10.7 million) for the period. However, the figures are in stark contrast to the prior year period. 

A key indicator of SolarWorld’s recovery comes from its regional sales analysis, which indicated that 43% of sales came from the US in the first nine months, buoyed by the preliminary anti-dumping decision on Chinese and Taiwanese made solar cells. 

Management said in its quarterly financial report that the boost in US module sales was also attributed to its PERC cell-based technology, providing high-efficiency modules. 

Module shipments in September 2014 were said to have topped 100MW, a new monthly record for the company. Third quarter shipments were 270MW, up 40% from the same quarter of 2013. Around 40MW of shipments in the quarter were said to be allocated to a major 50MW PV power plant project outside Europe that the company had secured a module supply deal for. 

Another indicator of SolarWorld’s business recovery is the increase in workforce, which was reported to be 2,751 at the end of September, 2014, compared to 2,095 in the previous year period, a 31% increase. The company recently announced further jobs being created at its manufacturing plant in Oregon, US. The workforce including temporary workers reached 3,409. 

SolarWorld reported that external wafer sales fell in the period from 36MW in the previous year to 24MW. 

Total nameplate capacity by year-end is expected to reach 1,360MW of solar cells and 1,230MW of modules. 

SolarWorld’s revenue in the third quarter was €180.8 million (US$225.2 million) and €408.9 million (US$509.3 million) for the first nine months of 2014. 

26 January 2022
Join this free webinar for our analysis of the growth of N-Type technology including; new capacity expansions and production output. We'll also be looking at the global manufacturing footprint with forecasts on how much product will be made outside of China this year and which companies are driving technology change across the crystalline silicon value chain.
23 February 2022
Held annually since 2016, the Energy Storage Summit Europe is the place to be for senior stakeholders in the European storage industry. Designed to accelerate deployment of storage, we examine evolving chemistries, business models, project design, revenue stacks and use cases for storage. The 2022 edition will include exclusive content around longer duration solutions, energy strategies for wide-scale deployment of EVs and "EnTech", the event which sits at the intersection of digitisation, decentralisation and decarbonation of the power system. Come to meet TSOs, DSOs, Utilities, Developers, Investors and Lenders and leave with new contacts, partners and a wealth of information.
7 March 2022
Take your chance to join the most powerful platform in the MENA region. Middle East Energy (MEE), Intersolar, and ees, the leading energy exhibitions are joining hands to co-deliver an outstanding renewables and energy storage event at Middle East Energy 2021. Renewables and energy storage at MEE is the largest gathering of solar and renewable energy industry professionals in the Middle East & Africa, offering the most effective trade focused platform to international manufacturers and distributors looking to meet regional buyers.
8 March 2022
As Solar Finance & Investment enters its ninth year, we sit on the cusp of a new power market with solar at its heart. The 2022 edition of the event will build on our years of expertise and relationships to bring investors and lenders together with top developers. Connect with leaders in the field and use exclusive insights to drive investment and development decisions for the future. Meet new and existing project partners at the largest gathering of European solar investors and lenders.
23 March 2022
When it comes to storage, the US market exceeded a gigawatt of advanced energy storage installations (weighted towards lithium ion) at 1.46 GW, more than the previous six years in total! An exponential growth rate could see the market hit 7.5 GW p.a. by 2025. The summit will provide a wealth of content around this vital piece in the US power puzzle, with sessions dedicated to explore how companies are making money from batteries, the latest chemistries and their applications as they apply to different use-cases. We ask how investors can match ESG criteria to batteries and we will bring case studies of successful deployment and project execution onto the stage to examine how you can ensure your own projects are successful.
29 March 2022
Now in its 10th sell-out year, Large Scale Solar returns to Lisbon in 2022. We are excited to gather together face-to-face with the European solar industry as we provide unique and exclusive access to a powerful selection of the market's key stakeholders. Join this elite summit to find out how the market is maturing, which new markets are becoming more exciting, how technology is evolving and who's driving the market forward into the 2020s. Always senior, packed with developers, EPCs, utilities and investors this is the event for companies serious about European solar PV.

Read Next

PV Tech Premium
January 18, 2022
olar project developer Eco Energy World is aiming to “aggressively” grow its US PV pipeline after formally entering the market last week and intends to replicate the cheaper engineering, procurement and construction (EPC) costs it sees in Europe in the country. PV Tech Premium speaks to CEO Svante Kumlin to find out more.
January 18, 2022
PV inverter specialist Huayu New Energy has upgraded its portfolio of single-module microinverters, launching them in the Brazilian market this month.
January 18, 2022
Trina Solar’s tracker manufacturing unit TrinaTracker has launched a 1P single-row tracker, dubbed Vanguard.
January 18, 2022
Spanish solar company Soltec Power Holdings, through its subsidiary Powertis, has sold a controlling stake in 421MW of its solar PV projects and 90MW of energy storage in Italy to German investment firm Aquila Capital under a co-development agreement.
January 18, 2022
Solar tracker manufacturer Soltec has signed contracts to supply 610MW of its SF7 bifacial trackers to Enel Green Power for use in two PV plants in Peru and Colombia.
January 18, 2022
Prefabricated solar solutions manufacturer 5B is looking to improve the scalability and cost of its technology through an AU$33.4 million (US$24 million) innovation programme and support from the Australian Renewable Energy Agency (ARENA).

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal