Neo Solar Reports Significant Growth For 2007

February 19, 2008 by Jeff Shepard

Taiwan-based solar cell maker Neo Solar Power has reported an 860% growth in 2007 revenues, which increased to NT$3.66 billion (US$115.42 million), with net profits of NT$548 million.

Neo Solar, founded in December 2005 with key investments from DRAM maker Powerchip Semiconductor Corp. (PSC), states that its capacity for the period of January-November 2007 was 30MWp, but utilization reached 120% during the second half of the year.

At the end of last year, the company added two production lines which it expects to run at full capacity in the first quarter. Neo Solar is also installing yet another new production line, which will come on line in the second quarter, taking the company’s total capacity to 90MWp.

The company also said that it has further expansion plans, aiming to increase its total capacity to 210MWp in the third quarter. In 2009, the company plans to expand its total capacity to 510MWp.