Suntech targets 1 gigawatt solar cell capacity by end of 2008

The solar cell manufacturer Suntech, said that they increased their PV solar cell manufacturing capability to 540 MW in 2007, and they expect to hit 1 GW of production capacity by the end of 2008. ¬†Suntech also expects to improve their gross margins and revenues during 2008 because they expect lower priced silicon to be available in the second half of 2008. That bodes well for the entire solar cell industry. Dr. Zhengrong Shi, Suntech’s Chairman and CEO, noted that, “costs will fall more than twice as fast as our projections of our average sales prices in 2009. We are confident that this will enable Suntech to expand production and improve profitability in 2009.”


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