Solar, Storage

Neo Solar To Expand Manufacturing Capacity to 600 MW

Taiwanese cell manufacturer, Neo Solar Power (NSP) has confirmed that it plans to expand its manufacturing capacity from 240 megawatts (MW) to 600 MW in 2010, which represents a 150% increase from 2009.

NSP estimates that it will make between 400-500 MW in shipments in 2010. This marks a 100-150% increase from the 200 MW forecasted shipments in 2009. For the 360 MW expansion, NSP estimates a total capital expenditure of NT $2.7 billion [US $83 million].

The funding will be fully supported by the company’s internal capital, which is backed by a cash position of NT $3.5 billion at the end of Q3 and about NT $700 million cash inflow from operating activities.

NSP said the company managed to deliver a strong sales rebound in June and reached full utilization in July. Contributed by rising shipment volume and higher cost inventory reduction, NSP returned to profits in Q3.