JA Solar Holdings Co. (JASO:US), China’s biggest solar-cell maker, expects deliveries in the second quarter to exceed an earlier forecast on higher demand from the U.S. and Japan.
Shipments will exceed 430 megawatts in the three months ending June 30, Bill Chen, vice president of strategic development, said in an interview. The Shanghai-based company last month estimated deliveries of 410 megawatts to 430 megawatts of solar modules and cells in the period.
An oversupply and tumbling prices led JA Solar and other solar-component makers to report losses last year and saw Suntech Power Holdings (STP:US) Co.’s main unit enter into bankruptcy proceedings in March. Industry restructuring may last another year and the company is expected to return to profitability in early 2014, Chen said.
The company “has seen the market recovering since the end of last year, as some competitors fell into debt crisis and demand from the U.S. and Japan is stronger than expected,” he said in Shanghai on June 21. “Module prices bottomed out and are stabilizing.”
Installations in the U.S. and Japan are forecast to rise 67 percent to 10 gigawatts this year and equal installations in Europe, he said.
The company plans to raise $80 million by selling shares within two years, Chen said. JA Solar has registered the offering with the U.S. Securities and Exchange Commission and “will choose a proper time to sell,” he said.
To contact the reporter on this story: Feifei Shen in Beijing at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com