First Solar to add eight CdTe lines; targets sales US$2.9 billion in 2010 (updated)
Taking note of the focus that investors and the solar industry in general were waiting to hear from the guidance given today by First Solar about its operational performance expectations for 2010, the thin film leader kicked off its investor meeting in New York by announcing a capacity expansion plan that includes the build-out of another eight production lines at its manufacturing hub in Kulim, Malaysia. Fiscal year 2010 net sales are projected to be $2.7 billion to $2.9 billion. Approximately US$365 million will be allocated to the two new production plants that each will have four manufacturing lines, with the new capacity starting to come online in the first half of 2011. This expansion is expected to increase First Solar's annual capacity by 424MW, assuming the third-quarter 2009 reported annual line run rate of 53MW. Interestingly, its previously announced 100MW-plus, two-line contract manufacturing plant to be built in France for EDF will not be started until the new expansi...