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| Thursday, 13 June 2013, 14:30 HKT/SGT | |
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HONG KONG, June 13, 2013 - (ACN Newswire) - As recent EU's anti-dumping measures on Chinese photovoltaic products throw the industry's prospect into limelight, it seems advancement of the thin-film technology promises to be a major winning strategy amid intensifying competition and overcapacity challenges.
Compared to traditional silicon components, thin-film solar modules are becoming widely used in industrial and commercial structures, private homes, and ground-mounted PV power plants, thanks to it being a light-weight, soft, and malleable material with high light-transmissiveness and responsiveness. An increasing number of industry watchers are turning to thin-film technologies as the main engine for next-generation PV development. .
As an established leader in China's thin-film solar sector, Hanergy Solar announced on 10 June that it completed a systemic upgrading of the tandem silicon-germanium production line under its Fab 2.0 Program, following two other breakthroughs since 2012, namely the upgrading of its PECVD manufacturing process, and the integration and upgrading in technology and equipment of turn-key production lines. With the Fab 2.0 program, Hanergy expects the conversion efficiency of solar modules, the output speed of the production line and the production capacity to be further enhanced. Together with more labor-saving automated operating processes, total manufacturing costs could be substantially decreased by approximately 9.34% on a per-watt basis. Frank Mingfang Dai, Chairman and Chief Executive Officer of Hanergy Solar, described Hanergy Solar boasts now "the most competitive costs in the world". Output of the turn-key lines could be increased by 50% while the units of PECVD used remain the same. This will also increase the gross profit margin of its turnkey line business.
In addition, Hanergy Solar further announced that it has developed new butyl edge sealing equipment and process, an upgraded packaging technology which significantly enhances the reliability and useful life of solar modules. Such Solar modules can sustain over 6,000 hours under the Dual 85 test, far more than the standard 1,000 hours as required by the International Electro-technical Institute Commission IEC 61646, increasing the competitiveness of the customers' products of Hanergy Solar.
Share price and trading of Hanergy stocks surged upon the announcements of technological breakthroughs, closing at HK$0.6 on June 10, representing an increase of 20% for the day and a new record in the past 52 weeks, bringing the company's market capitalisation to HK$13,025 million. On the same day, Hanergy Investment, the company's controlling shareholder, had purchased an aggregate of 102 million shares of the Company in the market in testimony to the major stakeholder's strong confidence.
Back in April 2013, while emphasizing technology research and development as well as technological upgrade program, Hanergy Solar established the Solar Power and Applications Group as the launch engine for its global solar power generation and large-scale new application markets development. The Group comprised four Business Units, including Building Integrated Photovoltaic Business Unit (BIPV), Building Attached Photovoltaic Business Unit (BAPV), Ground-mounted Photovoltaic Power Business Unit and Photovoltaic Applications Business Unit, which are responsible for product plans, sales strategies and provision of technological guidance, quality products and integrated system solution to customers worldwide.
In the meantime, the Company has established six regional offices across the world, covering North America, South America, Europe and the Middle East, Asia Pacific, Africa and the Greater China. These regional offices are mainly responsible for the market development, channels and network building as well as other businesses in respective regions, and to assist the business units to manage the project development, operation and maintenance.
Market estimates indicate generating capacity of the BIPV in China could replace about 30% of the country's annual electricity demand and reduce the carbon dioxide emissions by 20% with its conversion rate of 10%. The social and economic potential of thin-film solar PV technology is increasingly manifest. The systemic restructuring and expansion of Hanergy Solar fully demonstrates the dynamic strategic deployment of a leading thin-file solar enterprise to that the equipment manufacturers from leading thin-film solar technology enterprises will enter the global PV application market on a large scale.
Describing Hanergy Solar's new structure, , Frank Mingfang Dai, indicated that as the strategic advance into downstream PV applications market will diversify the client base and revenue source , it will spell better returns for Hanergy's investors as well as the company's business development.
Topic: Press release summary
Sectors: Daily Finance, Energy, Alternatives, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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