Sino-American Silicon Products Inc (SAS, 中美矽晶), which makes solar cells and modules, yesterday said its revenue last year expanded 18.9 percent year-on-year to a record high of NT$81.87 billion (US$2.67 billion), with revenue at its solar business soaring 34.5 percent year-on-year to NT$10.25 billion.
Last year’s solar revenue growth proves that SAS is returning to a robust healthy growth track, though it is still heavily reliant on its silicon wafer subsidiary, GlobalWafers Co (環球晶圓), for revenue growth.
GlobalWafers is the world’s No. 3 silicon wafer supplier.
As the world’s solar installations are growing, SAS aims to keep its solar business revenue this year at a similar level as last year by boosting shipments to offset unfavorable pricing environments.
Worldwide solar installations are to grow about 17.5 percent to 315 gigawatts this year from 268 gigawatts, SAS said, citing a forecast by BloombergNEF.
Last year was a brilliant year for the company thanks to strong demand for solar panel installations at home and abroad, as nations sought to increase their solar energy resources to fight climate change, which resulted in increases in shipments, SAS chairwoman Doris Hsu (徐秀蘭) told a media gathering in Hsinchu on Wednesday.
Surges in raw material costs, including polysilicon and monosilicon solar wafers, also gave a boost to the average selling prices of solar cells and modules, the company said.
However, the cost of raw materials dropped more than 20 percent in the final two weeks of last year from the previous two weeks, and it might take some time to see prices rebound, Hsu said.
“It has a good and bad [influence],” she said. “The bad part is that revenue will be lower. The good part is that it will speed up solar installations if costs become more affordable.”
SAS this year is targeting growing its solar business revenue slightly or on a par with last year in anticipation of a drastic correction in average selling prices and the company is to prioritize the expansion of solar output and raise revenue contributions from solar energy supply, she said.
SAS has invested in three companies operating solar power plants in Taiwan, the Philippines and Canada.
The company’s solar business contributed about 13 percent of its total revenue of NT$60.67 billion during the first three quarters of last year. It received 87 percent of its revenue from semiconductor subsidiary GlobalWafers, in which it has a 51 percent stake.
The company’s new solar cell manufacturing line has entered mass production to supply large, high-efficiency solar cells, SAS said.
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