Chinese solar manufacturer ReneSola had some good news for investors and the wider solar industry with a positive update to its trading forecasts.
The recovery in the industry was exemplified by the update from the wafer and module manufacturer which raised shipment forecasts as well as predicting higher revenue and gross margin.
The Zhejiang-based manufacturer is expecting to have shipped 760-770 MW of products from April to June, up from the 700-720 MW previously predicted for the second quarter with modules making up 450-460 MW of that figure, up from a previous 400-420 MW estimate.
Over the same period, revenue is predicted to be around US$365 million-375 million, up from $310 million-330 million with gross margin up to 5-6 per cent from the previous 3-5 per cent estimate.
Those figures mean a lift for the full year predictions too with the company now expecting to ship 2.8-3 GW of modules and wafers in 2013, up from the previous 2.7-2.9 GW with modules accounting for 1.6-1.8 GW, up from 1.4-1.6 GW.