Mon 03 Nov 2008
LONDON (SHARECAST) - Solar wafer producer ReneSola saw its share price heat up after it said its principal operating subsidiary has secured additional credit lines.
Two of China's largest banks, Industrial & Commercial Bank of China and the Agricultural Bank of China have agreed to provide ReneSola subsidiary Zhejiang Yuhui Solar Energy Source with additional credit lines of RMB1.06bn between them. The new credit facilities take Zhejiang Yuhui's credit lines to around RMB2.8bn.
"While our capacity expansion for 2008 is fully financed and our cash position remains healthy, the additional credit lines committed to us by two leading Chinese banks demonstrate their strong recognition and confidence in ReneSola notwithstanding the current volatility of the financial markets," said Xianshou Li, ReneSola's chief executive officer.
ReneSola said its expects third quarter revenues to be in the $210m to $220m range, and production to be higher than previously indicated at around 100 megawatts to 103 megawatts (mw). Previously the company had guided analysts to expect third quarter output of 90mw to 95mw.
Tuesday, November 4, 2008
Polysilicon shifting form semiconductor to solar use, say Taiwan makers
Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Tuesday 4 November 2008]
Leading suppliers of polycrystalline silicon material (poly-Si) around the world, viewing that demand from the solar energy industry will keep growing in 2009 while that from semiconductor industry will decrease, may allocate increased portions of their output for solar players in 2009, according to makers of solar-grade polycrystalline silicon wafers in Taiwan.
The global consumption of solar-grade poly-Si amounted to 27,673 metric tons in 2007, surpassing that of 23,570 metric tons of semiconductor-grade poly-Si for the first time, the sources pointed out. Since solar energy production is estimated to grow on year by 50% in 2008 and by 30% in 2009 while semiconductor production may drop by 10% in 2009 from 2008, the gap in global demand for poly-Si between solar grade and semiconductor grade will be widening in 2008 and 2009, the sources indicated.
Despite the projected increase in demand, existing leading suppliers of solar-grade poly-Si based on Siemens manufacturing process will be faced with increasing competition from new fellow makers, of which many are based in China, as well as suppliers adopting upgraded metallurgical grade (UMG) or other processes, the sources pointed out.
Leading suppliers of polycrystalline silicon material (poly-Si) around the world, viewing that demand from the solar energy industry will keep growing in 2009 while that from semiconductor industry will decrease, may allocate increased portions of their output for solar players in 2009, according to makers of solar-grade polycrystalline silicon wafers in Taiwan.
The global consumption of solar-grade poly-Si amounted to 27,673 metric tons in 2007, surpassing that of 23,570 metric tons of semiconductor-grade poly-Si for the first time, the sources pointed out. Since solar energy production is estimated to grow on year by 50% in 2008 and by 30% in 2009 while semiconductor production may drop by 10% in 2009 from 2008, the gap in global demand for poly-Si between solar grade and semiconductor grade will be widening in 2008 and 2009, the sources indicated.
Despite the projected increase in demand, existing leading suppliers of solar-grade poly-Si based on Siemens manufacturing process will be faced with increasing competition from new fellow makers, of which many are based in China, as well as suppliers adopting upgraded metallurgical grade (UMG) or other processes, the sources pointed out.
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