US thin-film solar company, First Solar (Nasdaq: FSLR) will be unable to meet demand this year, a senior executive said on Saturday.
European solar sales have been strong in the first half of the year, driven by projects attempting to beat a July 1 reduction in German solar subsidies.
Demand is expected to fall off in 3Q10, but pick up again in the 4Q10 ahead of additional cuts in 2011, according to Stephan Hansen, who is in charge of First Solar’s business in Europe, the Middle East and Africa.
"In 2010 we will not be able to produce enough modules to meet demand," he told Swiss paper Finanz und Wirtschaft. (Reuters reporting)
He said the company is postponing projects in the U.S. to meet strong European demand, and expects that demand in the U.S. and other European countries will ultimately make up for falling demand in Germany as subsidies are reduced.
He added that large Chinese solar firms like Suntech (NYSE: STP) Yingli (NYSE: YGE) and Trina Solar (TSL.N) have also indicated they are unable to meet demand.
This follows similar news in the solar inverter business, where market leader SMA Solar Technology (S92.DE) has been unable to ramp up to meet current demand.
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