Taiwan’s largest solar cells maker Sino-American Silicon Products said it expects shipments to rise by about 30% in 2010, as the global market for solar power grows stronger.
Sino-American, which supplies solar wafers to Japan’s Sharp Corp and Sanyo Electric, also expects to raise cash by issuing shares and sees improved profitability next year on strong demand for solar products, Sino-American president Doris Hsu told Reuters.
“Next year, overall profitability will be much better than 2009,” Hsu said in a telephone interview from Taiwan, reports the news agency.
The company said it is targeting wafer shipments of nearly 400MW in 2010, up from about 280MW this year.
Solar companies have been struggling with depressed prices because of overcapacity and a fall off in demand as funding for solar projects fell considerably.
Wafer prices have collapsed to about $0.80 a watt, from over $3 in 2008, reports Reuters.