Module manufacturing giant Canadian Solar shipped 1.7 GW of modules in the second quarter of 2018, a 23.7% increase on the previous quarter, according to the company’s latest update. Net revenue, however, fell more than 50% quarter-on-quarter with the company blaming fewer project sales and lower module prices.
Chinese polysilicon producer Daqo New Energy says it maintained full production capacity in June, and reiterated its full year production guidance of 22,000-23,000 MT. The company’s Q2 financials show, however, sales volume and profits fell over the previous quarter, thanks to loss of demand in China.
Taiwanese cell producer, Neo Solar Power has posted a net loss of NT$390 million (US$12.75 million) for the second quarter of 2018. Though indicative of the difficult times currently facing Taiwan’s cell manufacturers, the figures represent a 39.3% reduction compared with the previous quarter’s loss.
The company has brought its operating margin to below -1%, as it fends off component shortages, short sellers and potential tariffs.
Norwegian project developer, Scatec Solar has posted increased revenues for the second consecutive quarter. The company states that this performance is primarily attributed to its increased development and construction activities, with more than 1 GW of projects under construction worldwide.
Norway headquartered polysilicon producer, REC Silicon posted a loss of US$9.6 million for the second quarter of 2018, amid reduced production and increasing inventory. The company’s Solar Materials segment was responsible for much of these losses, with decreased demand and ongoing trade wars cited as the cause.
Despite the uncertainty caused by U.S. solar panel import tariffs, deteriorating trade relations between the U.S. and China, and the looming consequences of China’s PV policy change, the solar industry saw a 15% YoY increase in corporate funding in the first half of 2018, on the back of a Q2 rebound, finds the latest Mercom Capital report.
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