US solar manufacturer and developer SunEdison has announced increased quarterly losses of US$102.9 million in the second quarter of 2013 following a drop in sales.
Losses grew 33% from US$77.2 million in the same period last year.
Net sales of US$401.3 million were less than half of 2012’s total of US$808.4 million.
“Business conditions in the second quarter remained challenging, but I am optimistic regarding our prospects for growth through the remainder of this year and into next,” said Ahmad Chatila, CEO of SunEdison.
“Although the semiconductor wafer market continues to be in an extended downturn, our second quarter Solar Materials performance improved. Solar Energy posted sequentially higher non-GAAP sales, pipeline and backlog, and remains well positioned to capture a disproportionate share of the solar market going forward.
“We remain committed to maintaining a healthy balance sheet, achieving profitability and generating strong returns for our shareholders,” he added.
The company’s solar project pipeline grew to 2.9GW with the addition of another 218MW.