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Neo Solar's June revenues improve m/m on higher demand

Solar panels. Author: 100% Campaign.

July 13 (Renewables Now) - Taiwanese solar cell and module maker Neo Solar Power Corp (TPE:3576), or NSP, saw its June revenues grow 9.22% month-on-month thanks to higher demand from Europe, the US, Japan and China.

On reporting June and six-month sales on Monday, the company said there were also “some rush orders” as a result of Suniva’s Section 201 petition. The EnergyTrend division of Taiwanese market intelligence provider TrendForce also said recently there was a rush of orders from the US as “PV product suppliers and solar power plant operators are aggressively stocking up and pulling orders ahead as precautionary measures”.

The International Trade Commission’s (ITC) injury determination based on Suniva’s call for relief against solar imports to the US is due in September and a report to the President will follow by November 13.

NSP is optimistic but cautious. Its revenue in the first half of 2017 more than halved, as visible in the table below. The firm is putting more effort into research and development of high efficiency solar cells and modules. It completed 200 MW of high efficiency solar module production lines last month and it says it can now offer modules with 10%-20% higher power generation than conventional ones. It also offers products for harsh environments, such as anti-typhoon, salt pan, and reservoir applications.

In TWD million June 2017 Change m/m Change y/y H1 2017 Change y/y
Revenue 905 +9.22% -27.94% 4,382 -57.9%

NSP is also developing its solar project business and expects to feel the effect of the overall transformation soon.

This week Neo Solar also announced the sale of its Zhunan FAB site to Maxchip Electronics Corp for about TWD 1.25 billion (USD 41m/EUR 36m), as part of a plan to exit the multicrystalline solar cell market.

(TWD 10 = USD 0.33/EUR 0.29)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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