Gintech Energy Corp (昱晶), the nation’s second-biggest solar cell maker, said it expected product prices to rise through the first half of the year as demand improves.
Global prices will probably climb about 2 percent each month, president Pan Wen-whe (潘文輝) told reporters in Taipei yesterday.
Global demand for solar panels may rise 20 percent this year as governments encourage the use of alternative energy to replace fossil fuels, Pan said.
Global installations of photovoltaic solar systems are forecast to jump 39 percent this year to 22.2 gigawatts, technology researcher Isuppli said last month.
“Market conditions have improved,” Pan said, adding that the company has been running its plants at full capacity.
Miaoli-based Gintech plans to boost its annual cell production capacity to 1.5 gigawatts by the end of August, from 930 megawatts currently, chairman Wenent Pan (潘文炎) said at the media briefing.
Capital spending will rise to NT$5.5 billion (US$187 million) this year from NT$1.5 billion last year as the company expands capacity, chief financial officer Andrew Shih (石同福) told reporters.
Gintech rose 1.2 percent to close at NT$93.80 in Taipei trading, underperforming the benchmark TAIEX, which climbed 1.8 percent.
Motech Industries Inc is the nation’s biggest solar cell maker by market value.
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