First Solar output to rise on series 6 ramp up

Arizona-based photovoltaic (PV) solar system supplier First Solar forecast its 2019 production volumes to more than double driven by the ramp up of its Vietnam, Malaysia and Ohio facilities and higher sales volumes, in particular of its series 6 module.

First Solar expects to produce 5.2-5.5GW of both series 4 and series 6 solar modules in 2019, up from an estimated 2.6-2.7GW for 2018 as of 25 October.

Series 6 modules will contribute between 3.2-3.5GW following a ramp up of output at its currently operating facilities and the planned commencement of production at its second Vietnam facility by the middle of the first quarter. The second Ohio facility, which has a 1,200MW capacity, is still planned to begin operations by early 2020.

The remaining 2GW will be made up by the twin Malaysian facilities that produce series 4 modules. With the start of 2020, First Solar plans to convert the two facilities over to series 6 modules, adding 1.2GW of series 6 capacity.

Increased volumes and sales are expected in turn to raise revenues to $3.25bn-3.45bn in 2019, up from the current $2.3bn-2.4bn outlook for 2018.

Third quarter revenues for the company were down by 38pc to $676mn, while profits fell to $58mn from $206mn a year earlier.

First Solar's series 4 and series 6 are cadmium-telluride based solar modules with between 216-264 cells. The company's planned series 6 production for 2019 could consume between 289-316 metric tons (t) of tellurium and 267-292t of cadmium, based on estimates of typical requirements from the World Bank.