China Sunergy (CSUN) Announces Major Capacity Expansion To Produce Next Gen Solar Cells

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08:45:20 am on June 28, 2011

Despite continued concerns about a solar slowdown in Italy and Germany across the solar industry, China Sunergy (CSUN) is forging ahead with a plan to increase solar cell capacity by con-investing $1.8 billion (RMB)  in a 1GW expansion project.  The first batch of 500MW is expected to be commercialized within a year.  China Sunergy will be producing its newly developed Quasar cells with an increased efficiency of 18.85% and hopes to achieve 20% efficiency with them within two years. 

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Mr.Stephen Cai, CEO of China Sunergy, commented: "We believe solar industry has a very promising future. We take this golden opportunity to expand our production capacity and commercialize on our leading R&D technologies with the strong support of the Yi Zheng Development Zone. We are confident that this 1GW production capabilities and highly efficient Quasar cells will provide us the scale and technological edge to be better positioned for industry growth and to become an industry leading player.”

Shares of CSUN have been in a long slide in recent months, but recently have shown signs of bottoming out.  The stock surged with volume last week and is currently digesting those gains in an orderly manner.  While solar stocks are beginning to show signs of stabilizing, in my opinion it’s a bit too soon to jump in particularly in shares of CSUN.

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