Solarfun Power Holdings Co. Ltd. announced that its wholly owned subsidiary Jiangsu Linyang Solarfun Co. Ltd. has entered into three contracts to supply 12.65 megawatts (MW) of solar photovoltaic modules for projects in China.
Solarfun Power Holdings Co. Ltd.’s wholly owned subsidiary, Jiangsu Linyang Solarfun Co. Ltd., has entered into three contracts to supply 12.65 megawatts (MW) of solar photovoltaic modules for projects in China.
The first contract was with Xuzhou Xie Xin PV Power Co. Ltd. to supply 10MW of modules for a project based in Xuzhou City, Jiangsu Province. These modules were delivered during the fourth quarter of 2009.
The other two contracts totaling 2.65MW are for a government funded project in Anhui Province. Solarfun was one of four companies that won the bid to participate in the 15MW project funded by Anhui Province. The modules are expected to be delivered during 2010.
The project is subject to further government approval and financing. Certain commercial terms of the contracts are subject to further negotiation and adjustment.
Solarfun also announced that it will increase its PV module production capacity from 550MW per year to 700MW per year by April, and its PV cell production capacity from 360MW per year to 480MW per year by July in order to meet anticipated demand.
“We have an optimistic view on industry demand in 2010, and believe that it is critical to scale up our manufacturing capacity to meet customer demand,” said Peter Xie, president of Solarfun. “We are expecting to see strong demand from areas with increased subsidies to solar projects, such as China and the United States. We plan to continue to reduce processing costs through increased production scale and enhanced manufacturing efficiencies.”