Fri, Dec 06, 2013 - Page 14 News List

Neo Solar revenue hits 32-month high

POTENTIAL BOOST:Taiwanese companies are expected to benefit from a surge in solar cell installations in Japan ahead of the Japanese government’s plans to slash subsidies

By Lisa Wang  /  Staff reporter

Solar cell maker Neo Solar Power Corp (新日光) yesterday said revenue for last month hit a 32-month high of NT$2.33 billion (US$78 million), thanks to strong demand from Japan, China and the US.

The figure represented growth of 1.42 percent from NT$23 billion in October. It was nearly three times the NT$800 million of a year earlier and follows Neo Solar’s acquisition of local rival DelSolar Co (旺能光電) in May.

“Overall demand continues to be strong,” Neo Solar said in a statement. “Recent demand from Japan, US and China helped drive global solar cell [system] installation.”

The company expects overall demand to buck the seasonal downtrend this quarter, the statement said.

Taiwanese companies are expected to benefit from rising solar cell installation in Japan ahead of the Japanese government’s plans to slash subsidies by 10 percent to ¥34 (US$0.33) per kilowatt-hour next year and trim another 10 percent to ¥30 in 2015, according to Taipei-based market researcher TrendForce Corp (集邦科技).

Average solar cell prices have remained flattish this week from last week’s US$0.389 as price increases in high-quality solar cells were offset by price declines in standard cells, TrendForce said yesterday.

Neo Solar chief executive Sam Hong (洪傳獻) said in October that “the worst period is over. The industry has become healthier, which means any solar cell maker will be able to make a profit if it manages technologies and costs well.”

Recovery in the solar cell industry also benefits the solar wafer sector, with Green Energy Technology Inc (綠能科技), the nation’s biggest solar wafer manufacturer, reporting a record revenue for last month.

Revenue increased 2.8 percent to NT$1.28 billion last month from October’s NT$1.24 billion, the company said in a statement yesterday. The figure represents 64 percent growth from the NT$785 million in November last year.

“As the end market tends to request [more] high-efficiency products, Green Energy expects utilization rates to remain high in 2014,” the statement said.

Green Energy said prices of high-end solar wafers were stabilizing and even rising, supported by growing demand from China, Japan and the US.

Meanwhile, Giga Solar Materials Corp (碩禾), a photovoltaic conductive paste maker, yesterday said revenue hit a record high of NT$514 million for last month, because of higher shipments in its new photovoltaic silver paste.

That was an increase of 14.3 percent from October’s NT$449 million and an annual growth of 86.9 percent from NT$275 million, the firm said.

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