SunEdison trims 2014 solar project sales forecast to 320 MW

Aug 8, 2014 - US company SunEdison Inc (NYSE:SUNE) on Thursday guided for solar project non-GAAP sales of between 70 MW and 80 MW in July-September 2014 and lowered full-year sales volumes projections to 320 MW or less.

The semiconductor materials and solar energy firm, formerly known as MEMC Electronic Materials Inc, sold 54 MW of solar projects in the April-June period. In the third quarter, it expects to complete between 270 MW and 310 MW of solar system installations and keep 200 MW-230 MW of them on its balance sheet.

SunEdison also guided for an average fully-developed solar system price per watt of between USD 2.60 (EUR 1.95) and USD 3 in the three months.

Meanwhile, the Missouri-based group slashed its non-GAAP sales volumes forecast for 2014 to 290 MW-320 MW from 460 MW-580 MW previously. It now expects to complete between 1,000 MW and 1,150 MW of solar parks and to retain between 710 MW and 830 MW of them on its balance sheet. Average project pricing for fully developed solar assets is now seen at between USD 2.50 per watt and USD 3 per watt for the full-year.

SunEdison narrowed its second-quarter net loss to USD 41.2 million from USD 102.9 million a year earlier as solar project orders rose. Revenues improved to USD 646.2 million from USD 401.3 million, mainly thanks to the contribution from the solar project division.

(USD 1.0 = EUR 0.749)

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