SunPower remains conservative on new capacity expansions and 2015 guidance

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Updated: Ahead of its financial analyst day event, major PV energy provider SunPower has pre-released financial guidance for 2015, while announcing its highly anticipated next wave of manufacturing capacity expansions.

According to several financial analyst notes ahead of the event, guidance on all key metrics except perhaps gross margin were deemed below analyst expectations, including announced capacity expansions. 

Capacity expansion

SunPower said it would go ahead with the construction of Fab 5, which it first mulled back in early February 2014. The initial nameplate capacity is being targeted at only 800MW, though this would be home to its next-generation technology, and none of SunPower's main competitors in high-efficiency have yet to announce any new plans at this level. Fab 5 would fabricate both cells and modules at the integrated plant. Location of Fab 5 was initially announced ahead of the analyst event. 

Perhaps the key expansion is the 1GW-plus of additional capacity of SunPower’s Low Concentration PV (LCPV) cell and system technology. This employs its existing solar cell technology in a unique CPV system that is already gaining traction for PV projects in China. 

However, SunPower reiterated in its analyst event that its LCPV technology enables leverage on its solar cell capacity, noting for that one 100MW line-pair serves ~1GW per annum of demand.

Overall, capex for 2015 was said to be in a range of US$300 million to US$350 million, up from US$150 million to US$170 million planned for 2014. 

2015 guidance

SunPower guided full-year 2015, non-GAAP revenue to be in the range of US$2.4 billion to US$2.6 billion and gross margin of 21% to 23%. The company had recently guided 2014 non-GAAP revenue of being in the range of US$2.535 billion to US$2.585 billion, with gross margin of 20% to 21%. 

Recognised shipments were guided in the range of 1.3GW to 1.4GW, compared to recent full-year 2014 guidance of 1.26GW to 1.3GW. 

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

January 24, 2022
Italy’s government will limit the windfall profits of some feed-in tariff-backed solar PV projects that have been able to benefit from rising energy prices.
January 24, 2022
More than 260 companies in the US clean energy sector are demanding urgent action on the US$1.75 trillion Build Back Better (BBB) Act, claiming that US$2 billion is being lost in economic activity every month the long-awaited bill is delayed.
January 24, 2022
Major polysilicon and wafer producer GCL-Poly Energy Holdings confirmed the completion of its granular silicon facility and, in a major reversal of last year’s fortunes, is expecting RMB5.5 billion (US$850 million) in net profit for 2021, according to a company statement.
January 24, 2022
Polysilicon producer Daqo New Energy is expecting a five-fold increase in net profit from its Xinjiang subsidiary as it continues to progress expansion plans.
January 24, 2022
Renewables developer and operator Leeward Renewable Energy has signed power purchase agreements (PPAs) with telecom company Verizon for a portfolio of four under-development solar and wind plants in the US with a combined capacity of 640MW.
January 24, 2022
The average cost of forecasting errors in the US is lower than previously thought at less than US$1/MWh, according to a study by Berkeley Lab that employed a new, publicly available method to examine the practice.

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