Taiwanese solar cell manufacturer Neo Solar Power Corporation (3576.TW) (NSP) announced plans to increase its 2010
capacity from 240 megawatts (MW) to 600MW, representing a 150% increase from 2009.
NSP estimates a 400MW – 500MW shipment in 2010, representing a
100% – 150% increase from the 200MW forecasted shipment in 2009.
For the 360MW expansion, NSP estimates a total capital expenditure of NT$2.7 billion. The funding will
be fully supported by internal capital, the company said. NSP’s cash position at the
end of 3Q09 was NT$3.5 billion and about NT$700 million cash inflow from operating activities for the first nine months of 2009.
Demand in 2010 is mainly from major markets in Germany, Japan, China, and U.S., NSP said.
Benefited by new
poly-silicon ramp-up from global leading manufacturers, such as Wacker and Kemlock, supply surplus for
polysilicon and weakened wafer cost are expected.
Fueled by lower material costs, NSP expects that
the prosperous global demand in 2H09 to continue into 2010 and provide mild support to the averaging
selling price (ASP) that shall help to stabilize gross margin.
While financial tsunami hindered solar demand growth in 1H09, NSP managed to deliver a strong sales
rebound in June and reached full utilization in July, NSP said.
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