SHANGHAI, July 19 /PRNewswire-FirstCall/ -- Solarfun Power
Holdings Co., Ltd. ("Solarfun" or the "Company") (Nasdaq: SOLF), a
vertically integrated manufacturer of silicon ingots, wafers and
photovoltaic ("PV") cells and modules in China, today announced its plan to increase
its cell capacity by 50 MW through the enhancement of its
manufacturing processes, and to convert 160 MW of its existing cell
lines to high-efficiency selective emitter technology, both to be
completed in the early first quarter of 2011.
Dr. Peter Xie, President of
Solarfun, commented, "We experienced robust demand from customers
in the first half of 2010, and customer demand in the second half
of 2010 turned out to be much stronger than what we had
anticipated. We are largely sold out of existing capacity for the
remainder of 2010. Our continued ramp-up in capacity is driven by
increased visibility of demand from our key customers in the first
half of 2011 and we want to be prepared to meet this additional
demand." Dr. Xie also noted, "The introduction of high-efficiency
cell technology is a culmination of increased focus and aggressive
investment in R&D, leading to a significant gain in cell
efficiencies which are critical to reducing our costs and
maintaining our competitive position."
The Company's cell capacity is expected to reach 550 MW by the
early first quarter of 2011. The addition of 50 MW incremental
capacity will be achieved through debottlenecking and the
enhancement of manufacturing processes without the purchase of any
new cell lines.
Also by the early first quarter of 2011, the Company plans to
finish converting 160 MW of its existing cell capacity to high
efficiency cell capacity through the introduction of selective
emitter technology. The Company's approach is expected to realize
efficiency targets exceeding 18.5% and 17.0% for monocrystalline
and multicrystalline cells, respectively. According to Dr.
Mohan Narayanan, Vice President of
Technology, "We believe our selective emitter technology offers
several advantages in addition to higher cell efficiencies,
including lower capital and physical space requirements, better
utilization of existing equipment and employee skills, and reduced
costs and higher yields."
The Company also announced that new manufacturing complexes are
currently under construction allowing for major future cell and
module capacity additions. These facilities will be completed
during the first half of 2011 and are expected to provide the
ability to add 500 MW of cell capacity and 1.2 GW of module
capacity. Dr. Xie concluded, "The investment in these new
manufacturing facilities are reflective of our confidence in the
continued growth in renewable energy and solar energy in
particular, as well as our abilities to capture an increasingly
larger share of that market."
About Solarfun
Solarfun manufactures silicon ingots, wafers, PV cells and PV
modules and provides PV module processing services to convert PV
cells into PV modules. Solarfun produces both monocrystalline and
multicrystalline silicon cells and modules. Solarfun sells its
products through third-party distributors, OEM manufacturers and
directly to system integrators. Solarfun was founded in 2004 and
its products have been certified to TUV and UL safety and quality
standards. SOLF-G
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended, and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements
involve inherent risks and uncertainties and actual results may
differ materially from such estimates depending on future events
and other changes in business climate and market conditions.
Solarfun disclaims any obligation to update or correct any
forward-looking statements.
For further information, please
contact:
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Solarfun Power Holdings Co.,
Ltd.
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Paul Combs
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V.P. Strategic
Planning
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26F BM Tower
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218 Wusong Road
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Shanghai, 200080
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P. R. China
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Tel: 86-21-26022833 /
Mobile: 86 138 1612 2768
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E-mail: paul.combs@solarfun-power.com
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Christensen
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Kathy Li
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Tel: +1 480 614
3036
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E-mail:
kli@ChristensenIR.com
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Roger Hu
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Tel: +86 158 1049
5326
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E-mail:
rhu@ChristensenIR.com
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SOURCE Solarfun Power Holdings Co., Ltd.