China's Largest Solar Panel Maker Expect Sales to Climb 20% in 2011

suntech power solar panels photo
Photo: Suntech Power

Suntech Plans to Make 2.4 GIGAWATTS of Panels in 2011

Not all news out of China today is bad. The Middle Kingdom's largest solar panel maker, Suntech Power Holdings, has come out with its sales projections for 2011 and they forecast a healthy solar power market (though not quite as ebullient a a few years ago).

suntech power solar panels photo
Photo: Suntech Power

Sunny 2011

Suntech Power expect its sales to go up by 20% in 2011, and it is building new manufacturing capacity to meet that demand.

"Revenue next year will be $3.4 billion to $3.6 billion, up from revised 2010 guidance of $2.78 billion to $2.83 billion, the Wuxi, China-based company said today in a statement. Production capacity will climb to 2,400 megawatts by the end of next year from 1,800 megawatts at the end of this year."

Whoa! That's 2.4 gigawatts of annual capacity!

suntech power solar panels photo
Photo: Suntech Power

Just a couple months ago, Suntech was celebrating the opening of its first U.S. plant in Arizona.

Not too suprisingly, Suntech's stock is up about 9% today, though it is still way down from its bubbly summit in 2007.

Via Bloomberg

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Tags: Alternative Energy | China | Solar Power


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