Thu, Nov 08, 2012 - Page 14 News List

Solar industry sees upturn with orders and revenues up

By Lisa Wang  /  Staff reporter

Green Energy Technology Inc (綠能科技), the nation’s biggest solar wafer maker, yesterday posted 66 percent monthly growth in revenue for last month to NT$631 million (US$21.6 million) on the back of rebounding demand for its high-efficiency products.

Green Energy posted NT$381 million in revenue in September, though last month’s figure represented a 30 percent decline from NT$897 million in the same period last year, according to a company statement.

The Taoyuan-based company said it is pursuing a potentially profit-making business model by forming strategic partnerships with downstream solar-power farm operators.

Green Energy’s losses narrowed to NT$779 million last quarter from losses of NT$911 million in the second quarter.

The upturn in the solar industry was also reflected in strong revenues for solar chemical material supplier Giga Solar Materials Corp (碩禾). The company said in a statement that revenue soared 42 percent to NT$258 million last month from NT$182 million in September, representing annual growth of 38 percent.

Giga Solar attributed last month’s results to inventory adjustments in the supply chain and recovering demand on falling prices, which drove up utilization rate of its solar cell customers, according to the statement.

Additionally, the solar product dumping and subsidy probes launched by the US, EU and China have helped boost the business of its local clients, Giga Solar said.

The company said it expects shipment to rise this month on the back of orders from new clients in Japan and China.

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