Press release from PR Newswire
Solarfun Announces Accelerated Module Capacity Expansion Plan to 900 MW and Cell Production Line Purchase
Wednesday, May 12, 2010
Solarfun Announces Accelerated Module Capacity Expansion Plan to 900 MW and Cell Production Line Purchase05:57 EDT Wednesday, May 12, 2010SHANGHAI, May 12 /PRNewswire-FirstCall/ -- Solarfun Power Holdings Co., Ltd. ( "Solarfun" or the "Company" ) (Nasdaq: SOLF), a vertically integrated manufacturer of silicon ingots and wafers, and photovoltaic ("PV") cells and modules in China, today announced that due to demand from customers for the second half of 2010, the Company plans to increase module capacity to 900 MW by August 2010. Additionally, the Company purchased a cell line from Semiconductor Manufacturing International Corporation ("SMIC"), which would increase the Company's cell capacity to over 500 MW by July 1, 2010.The Company has already reached its previously announced module capacity target of 700 MW, and plans to further expand module capacity to 900 MW by August 2010. Solarfun also recently acquired a cell production line with an annual capacity of 25MW from SMIC, which will begin operations in May 2010. �Including the previously announced cell capacity expansion plan of 120 MW, the Company will have a total cell capacity exceeding 500 MW by July 1, 2010.Peter Xie, President of Solarfun, commented, "We expect the strong demand for our products in the first half of 2010 to carry over into the second half of the year. We plan to expand our module capacity above previously announced plan to meet anticipated demand. Also, market conditions have increased the need for internally-produced cells, and our acquisition of cell production line from SMIC will enable us to expand cell capacity more rapidly than under the originally planned equipment purchase timeframe." About SolarfunSolarfun manufactures both PV cells and PV modules, provides PV module processing services to convert PV cells into PV modules, and supplies solar system integration services in China. Solarfun produces both monocrystalline and multicrystalline silicon cells and modules. Solarfun sells its products through third-party distributors, OEM manufacturers and directly to system integrators. Solarfun was founded in 2004 and its products have been certified to TUV and UL safety and quality standards. � SOLF-G For further information, please contact:Solarfun Power Holdings Co., Ltd. � � Paul Combs � � V.P. Strategic Planning � � 26F BM Tower � � 218 Wusong Road � � Shanghai, 200080 � � P. R. China � � Tel: �86-21-26022833 / Mobile: �86 138 1612 2768 � � E-mail: IR@solarfun-power.comChristensen � � Kathy Li � � Tel: �+1 480 614 3036 � � E-mail: �kli@ChristensenIR.com � � Roger Hu � � Tel: �+86 158 1049 5326 � � E-mail: �rhu@ChristensenIR.comSOURCE Solarfun Power Holdings Co., Ltd.For further information: Paul Combs, V.P. Strategic Planning of Solarfun Power Holdings Co., Ltd., 86-21-26022833, Mobile, 86 138 1612 2768, IR@solarfun-power.com; or Kathy Li, +1-480-614-3036, kli@ChristensenIR.com, or Roger Hu, +86 158 1049 5326, rhu@ChristensenIR.com, both of Christensen, for Solarfun Power Holdings Co., Ltd.