The Arizona-based equipment maker is sticking to its guns by withdrawing from the PV market after sales wobbled in China last year. With most of the big players having rediscovered their thirst for expansion, however, it appears a curious strategy.
The solar superpower’s departure from its ambitious PV targets has shaken the industry and put a dampener on share prices. Analysts from U.S. investment bank Roth Capital expect a module oversupply mountain of more than 30 GW as a result of the policy change.
The U.S. supplier of automation systems for the PV industry also saw order intake and quarter-end backlog increase in the latest quarter. All of the company’s segments contributed to the turnover growth registered in this period.
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