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| Tuesday, 10 May 2011, 12:26 HKT/SGT | |
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Source: Trony Solar | |
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| Significant Capacity Expansion for Fast Growing Off-grid Market |
HONG KONG, May 10, 2011 - (ACN Newswire) - Trony Solar Holdings Company Limited ("Trony" or the "Company", stock code: 2468.HK), China's largest and the world's leading manufacturer of thin film photovoltaic ("PV") cells and modules, is pleased to announce that Trony is ranked 3rd as measured by thin film module production volume among 15 worldwide thin film leading producers in 2010, ranking behind a U.S. company and a Japanese company, and climbing from 4th spot in 2009, according to the latest study by Photon consulting LLC.
Trony's improved ranking in thin film production is attributable to its continuous and substantial capacity expansion and robust market demand. Currently, Trony's annual manufacturing capacity is 205 MW, and will expand to 265 MW per annum in the third quarter of 2011, and further expand to 325 MW in the first quarter of 2012.
Among the top 3 thin film producers, Trony highly focuses on off-grid solar market, which is expected to grow at a CAGR of 41%, and has large and diverse addressable end markets with less intense price competition and more stable ASPs compared to on-grid.
Moreover, Trony has cost advantages among peers. With continual effort to improve technology and manufacturing process as well as supply chain management initiatives, the Company has been successful in achieving its manufacturing cost at RMB6.66 per watt. It will further enhance the Company's profit margin.
Trony also spares no effect in increasing conversion rate. It has commenced producing tandem junction panels at greater than 6.5% efficiency, and has achieved 7.3% efficiency at production stage last year. The Company aims to rollout 9% efficiency with microcrystalline technology in 2011.
Mr. Li Yi, Chairman and CEO of Trony, said, "It is a great pleasure to know that we are now among top 3 in thin film module production, which urges us to continue to focus on expanding our capacity to meet the strong market demand for our products. As developed nations push to adopt renewable energy for a cleaner environment and energy independence, while rural area and emerging markets look to off-grid solutions for basic needs such as lighting and water pumps, off-grid market has large demand and substantial potential growth around the word. Trony, as an established leader in the fast growing off-grid market, will continuingly expand its capacity to capture the multi-decade growth opportunities ahead."
Contact:
Wonderful Sky Financial Group:
Ms. Joanne Chan
Tel: +852 9616 2676
Email: joannechan@wsfg.hk
Mr. Hon Fung
Tel: +852 6335 5933
Email: hf@wsfg.hk
Ms. Cathy Zhang
Tel: +852 9660 2592
Email: cathyzhang@wsfg.hk
Ms. Angie An
Tel: +852 9738 4362
Email: angiean@wsfg.hk
Mr. Kevin Mao
Tel: (852) 6462 8766
Email: kevinmao@wsfg.hk
Topic: Production report
Source: Trony Solar
Sectors: Alternative Energy
https://www.acnnewswire.com
From the Asia Corporate News Network
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