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SunPower To Expand Its Operation

SunPower, amongst other things, is one of the world’s leading manufacturers of solar panels having been involved in the installation of more than 100,000 solar panel systems on domestic properties in the USA. Interestingly, the company are looking to expand their operations yet, only last year, they closed down a solar cell operation.

You will no doubt be aware that the solar photovoltaic industry has been going through troubled times with many businesses having to close due, in part, to the over-supply of solar panels. Are we now going to see a turn around in this situation or is SunPower going to prove an exception?

A SunPower solar plant

The company is to construct a brand new solar cell plant to help it increase it’s manufacturing of solar cells by as much as a quarter. This factory is to be in the Philippines and will enable the company to increase its capacity to produce solar cells to 1.8GW.

Apparently, the company has seen a turnaround in its fortunes as, in the third quarter of 2013, sales amounted to $657.1 million with a net profit of $108.4 million. For the same period of 2012, it had a similar level of sales at $648.9 million but a net loss of $48.5 million. SunPower is also involved in the development and construction of solar power plants on a global basis. It is also estimated that the company provide solar panels to anything between 10% to 15% of domestic homes in Japan.

This is another positive development within the solar power industry that is most welcome considering the very difficult times the industry has been going through with, for instance, the issues between China, USA and the European Union countries to name but a few. Let us hope that we continue to hear of similar situations both globally but in particular, in the UK solar power sector.

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