Solarfun (SOLF) Announces Capacity Expansion & Increased Solar Cell Efficiency, Stock Breaks Out

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01:16:54 pm on July 19, 2010

Solarfun Power (SOLF) announced plans this morning to increase manufacturing capacity by 50MW and to convert 160MW of its cell manufacturing lines to high efficiency selective emitter technology with both expected to be completed within about six months.  The increase in capacity will be achieved by good old fashioned “debottlenecking” and get the company to a total capacity of 550MW by early next year.  They also announced that new manufacturing facilities are under construction and will be completed within a year, enabling a doubling of current cell capacity and adding 1.2GW of module capacity.  With a massive capacity expansion and the announcement of solar cell efficiency improvements, it’s no wonder SOLF is breaking out of a bullish formation  today.  The stock is currently up 7% and breaking out of a cup with handle base pattern with heavy volume.

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Solarfun President Peter Xie commented: “We experienced robust demand from customers in the first half of 2010, and customer demand in the second half of 2010 turned out to be much stronger than what we had anticipated. We are largely sold out of existing capacity for the remainder of 2010. Our continued ramp-up in capacity is driven by increased visibility of demand from our key customers in the first half of 2011 and we want to be prepared to meet this additional demand.  The introduction of high-efficiency cell technology is a culmination of increased focus and aggressive investment in R&D, leading to a significant gain in cell efficiencies which are critical to reducing our costs and maintaining our competitive position.”

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