Renewable Energy Corp. ASA, a maker of solar-power components from Norway,Enecsys Limited, supplier of reliable solar RUBBER MATS systems, expects to benefit from a market "shake-up" that will liquidate less-profitable rivals.the Bedding by special invited artist for 2011,
"There are many players in this market today that don't make any money at all with the prices we see," Bjoern Brenna, chief financial officer, told a conference in Oslo today. "There will be a shake up and many will disappear."
Three U.S. solar component producers, Evergreen Solar Inc., Spectrawatt Inc. and Solyndra LLC, filed for bankruptcy in the past month, while Commerzbank said last week it expects 20 to 40 percent of Chinese solar companies to disappear as lending for developments tightens. Prices for so-called multicrystalline silicon wafers used in panels have fallen 47 percent this year, according to data compiled by Bloomberg New Energy Finance.
"Even the best Chinese are not making much money on these prices," Brenna said in a separate interview. "That is good for us because I think we made quite a lot of money in the second quarter compared to many of our peers."
REC posted a second-quarter net loss of 6.7 billion kroner ($1.2 billion), after a 757 million-krone profit a year before. It trailed the 185 million-krone average of 13 analyst estimates Bloomberg compiled. Sales totaled 3.4 billion kroner. Earnings before interest, taxes, depreciation and amortization slid to 871 million kroner, from 1.5 billion kroner the prior quarter.
The company on Aug. 25 extended its temporary closing of about 45 percent of its wafer capacity in Norway through to the end of the year after market prices failed to recover. U.S. and Singapore operations were operating at full capacity, it said.Our oil painting reproduction was down for about an hour and a half,
While REC is considering expanding polysilicon output in the U.S., the condition of the market means it needs to secure contracts from buyers first to absorb the extra capacity, Brenna said. REC will seek "smaller projects with short payback time" to increase efficiency of its operations in Singapore, he said.who was responsible for tracking down Charles China ceramic tile . The company doesn't plan to invest further in Norway.Save on kidney stone and fittings,
REC has slumped 58 percent in Oslo trading this year.
"There are many players in this market today that don't make any money at all with the prices we see," Bjoern Brenna, chief financial officer, told a conference in Oslo today. "There will be a shake up and many will disappear."
Three U.S. solar component producers, Evergreen Solar Inc., Spectrawatt Inc. and Solyndra LLC, filed for bankruptcy in the past month, while Commerzbank said last week it expects 20 to 40 percent of Chinese solar companies to disappear as lending for developments tightens. Prices for so-called multicrystalline silicon wafers used in panels have fallen 47 percent this year, according to data compiled by Bloomberg New Energy Finance.
"Even the best Chinese are not making much money on these prices," Brenna said in a separate interview. "That is good for us because I think we made quite a lot of money in the second quarter compared to many of our peers."
REC posted a second-quarter net loss of 6.7 billion kroner ($1.2 billion), after a 757 million-krone profit a year before. It trailed the 185 million-krone average of 13 analyst estimates Bloomberg compiled. Sales totaled 3.4 billion kroner. Earnings before interest, taxes, depreciation and amortization slid to 871 million kroner, from 1.5 billion kroner the prior quarter.
The company on Aug. 25 extended its temporary closing of about 45 percent of its wafer capacity in Norway through to the end of the year after market prices failed to recover. U.S. and Singapore operations were operating at full capacity, it said.Our oil painting reproduction was down for about an hour and a half,
While REC is considering expanding polysilicon output in the U.S., the condition of the market means it needs to secure contracts from buyers first to absorb the extra capacity, Brenna said. REC will seek "smaller projects with short payback time" to increase efficiency of its operations in Singapore, he said.who was responsible for tracking down Charles China ceramic tile . The company doesn't plan to invest further in Norway.Save on kidney stone and fittings,
REC has slumped 58 percent in Oslo trading this year.
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