Wed, Aug 03, 2011 - Page 12 News List

No impact from fire: Green Energy

REVENUE RISE:The solar wafer maker reported a sales pick up last month, aided by recovering demand, which helped stabilize prices and boosted its utilization rate

By Lisa Wang  /  Staff Reporter

Green Energy Technology Inc (綠能科技) yesterday reported smoke from its recycling facilities at a new plant in the south, but said the incident would not affect its production ramp-up later this year.

No one was injured in the incident and no manufacturing equipment was damaged, the nation’s biggest solar wafer manufacturer said in a filing to the Taiwan Stock Exchange, adding that the situation was under control.

Green Energy invested NT$5.77 billion (US$19.97 million) last year in the construction of the wafer solar plant at the Southern Taiwan Science Park (南部科學園區) in Lujhu (路竹), Greater Kaohsiung.

The plant, which is conducting trial runs in preparation for mass production later this year, is expected to add 500 megawatts a year in capacity after it ramps up production. Green Energy currently has an annual capacity of 1 gigawatt.

On Monday, Green Energy reported that revenues last month rose for a second consecutive month after stalling in May. Revenues grew 0.4 percent to NT$1.47 billion last month from June’s NT$1.46 billion, as recovering demand helped stabilize wafer prices and brought factory utilization back to 100 percent.

On an annual basis, last month’s revenues dropped 3.5 percent from NT$1.52 billion.

As demand picked up, the firm said it was negotiating with customers for better prices, adding that it hoped to have its new capacity from the Kaohsiung plant ready soon to cope with rising demand.

The price of polysilicon solar wafer rebounded 0.05 percent to an average of US$2.051 from a week ago, helped by rising demand from China, according to a survey by local market researcher TrendForce Corp (集邦科技) last week.

Shares of Green Energy advanced 1.13 percent to NT$80.8 yesterday, bucking the TAIEX’s 1.34 percent decline.

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