SolarWorld AG sees a growing demand for its quality and high-efficiency products on the international solar market. In the first three months of 2016, the group increased its revenue by more than 40 percent, compared with previous year’s quarter. The company released its consolidated quarterly statement today and confirmed its preliminary figures.
“We are quality and technology leader for high-efficiency solar products. More and more customers recognize the clear added value we offer: highly reliable energy yields and returns on investment for more than 30 years,” explains Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG. With its high-tech strategy, SolarWorld was able to grow considerably above all in the U.S. and Europe in the first quarter 2016. Quality awareness is rising everywhere, also in the market for large-scale solar projects. Here, we won some attractive orders, for example in Sri Lanka, France and the United States. Our modules with PERC technology and 72-cell-modules are particularly high in demand for projects,” Frank Asbeck says. “In future, our bifacial modules Bisun will score highly in this segment, too.” A solar installation at the University of Richmond, Virginia/United States, is one of the first to employ the Bisun modules, which generate electricity both from direct exposure to solar radiation on the front side as well as reflected sunlight on the backside.
Over the course of 2016, SolarWorld wants to further benefit from the strong demand and continues to invest in technological upgrades and the expansion of its production capacities. In the first three quarters, the company already invested € 6 million. This year, SolarWorld concentrates on PERC, bifacial technology and the introduction of 5 instead of the market standard 3 busbars – the contacts on the solar cell. This will increase cell efficiency by up to 2 percent. These investments enable SolarWorld to increase its share of high-efficiency products in its product mix. “This will also improve our operating result over the year. We are on track to reach our goals for fiscal year 2016,” Frank Asbeck says.
Consolidated Quarterly Statement Q1 2016 of SolarWorld AG: www.solarworld.de/financial-reports
SolarWorld REAL VALUE: SolarWorld manufactures and sells high-tech solar power solutions and in doing so contributes to a cleaner energy supply worldwide. The group, headquartered in Bonn, Germany, employs 3,820 people and carries out production in Freiberg, Germany; Arnstadt, Germany; and Hillsboro, USA. From raw material silicon to solar wafers, cells and modules, SolarWorld manages all stages of production ‒ including its own research and development. Through an international distribution network with locations in Europe, USA, Singapore, Japan and South Africa, SolarWorld supplies customers all over the world. The company maintains high social standards at all locations across the globe, and has committed itself to resource- and energy-efficient production.