Suntech Power has reiterated its plans to achieve a name plate production capacity of 1GW in solar cells by the end of 2008. Suntech also expects total PV module shipments to reach 530MW and revenues in the range of $1.9 billion to $2.1 billion for 2008. The company plans to spend between $200 million and $300 million on capital equipment this year to add between 20 and 30 plus production lines with a nominal capacity of 30MW per annum to enable it to reach its 1GW capacity target.
In 2009, Suntech is planning to increase name plate production capacity to 1.4GW, which indicates capital spending to remain in the same range as in 2008.
With polysilicon supplies expected to improve from the second quarter of 2008 onwards, Suntech would seem to be aiming to achieve 2GW of capacity by the end of 2010.
The company also said that it was continuing its evaluation of its next-generation cell technology, ‘Pluto’ at a 30MW pilot line and expects to roll out the technology through its existing lines starting later in the year.
The first phase of Suntech’s thin film production plant is expected to begin operation the fourth quarter of 2008, reaching 50MW of thin film solar cell production capacity in 2009.
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