Hanwha SolarOne eyes higher PV efficiencies with new technology

Nov 21, 2013 - China’s Hanwha SolarOne Co Ltd (NASDAQ:HSOL) said today it had upgraded its solar cell manufacturing processes with a new technology which will allow it to bolster product efficiencies and cut production costs.

The company calculates that photovoltaic (PV) products made using the technology are 0.2% to 0.25% more efficient, adding 3 W to 5 W to module output. Also, the new equipment integrated into Hanwha SolarOne’s production plants will cut the use of silver paste by some 45%, thus slashing costs.

Chief technology officer Jeong Eui Hong said that the company intended to use the technology to gradually raise above 18.5% the cell efficiencies of its multi-crystalline silicon wafers by end-2015.

Earlier this month Hanwha SolarOne guided for a 13%-19% quarter-on-quarter rise in October-December shipments and said it expected better gross margins and stable or improved selling prices.

For the third quarter the solar company reported a net loss of CNY 460.4 million (USD 75.6m/EUR 56.3m). This compares to losses of CNY 322.1 million a year before and CNY 166 million in the second quarter of 2013. Revenue amounted to CNY 1.14 billion, up from CNY 966 million. The Japanese market accounted for 46% of the total sales.

(CNY 1 = USD 0.164/EUR 0.122)

Choose your newsletter by Renewables Now. Join for free!