US-based manufacturer SunPower has raised its outlook for 2013, predicting revenues of between US$2.52 billion US$2.57 billion.
The company’s third quarter results also estimated Q4 revenues of US$725 million, up from US$675 million. Revenue for the third quarter was US$657.1 million up from US$648.9 million.
It also announced plans to build a 350MW factory in the Philippines, boosting its production capacity by a further 25%. The new facility is expected to open for business in 2015. All of its current manufacturing facilities are operating at full tilt.
“SunPower's planned 350MW expansion will produce our next generation, step-reduced cell technology with initial silicon starting in early 2015. This will bring our total cell capacity to more than 1.8GW when fully ramped,” said Tom Werner, president and CEO of SunPower.
SunPower, which is two-thirds owned by French oil giant Total, said it was also looking to expand its international project pipeline.
“Japan remains a key market for SunPower. In addition to our longstanding participation in the residential market, we are also increasing shipments to the commercial and power plant segments as evidenced by the recent signing of supply agreements totalling more than 90MW for two power plants projects, ” said Werner.
“Our performance in Europe was solid, as demand trends improved further and industry conditions were in line with our expectations. In our emerging markets channel, we are continuing to expand our footprint as we partner with Total to monetise our growing international pipeline.
“For example, we recently announced that in partnership with Total S.A., we will construct a 70MW merchant power plant in Chile, the largest merchant solar project in the world, with completion scheduled for 2015,” he added.