Hsingchu, Taiwan [RenewableEnergyWorld.com] 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.