$20m NSP loss ahead of merger
Neo Solar Power (NSP), set to complete its merger with fellow Taiwanese cell and module maker DelSolar on 31 May, recorded a NT$599.56m ($20.3m) net loss in the first quarter.
NSP's consolidated revenue rose to NT$1.023bn in April, up 9.7% from March, it said in a monthly earnings statement.
The Hsinchu-based PV cell manufacturer expects shipments to grow in the second quarter due to rising average selling prices, improving order visibility and strong demand for its monocrystalline and multicrystalline cells in Australia, Thailand, South Africa and the Middle East.
PV power plant developer General Energy Solutions, a subsidiary of NSP, told Taiwanese electronics publication DigiTimes that it expects to install 70-100MW of projects this year, including 50MW in Japan and 30MW in the US. It brought 3.8MW of solar on line in Taiwan last year.
Taipei-based Delta Electronics holds a 54% stake in DelSolar, which announced plans in December to merge with NSP. The merged entity will be Taiwan’s biggest PV manufacturer, posing a threat to local competitors Motech and Gintech.
Taiwan’s fragmented solar supply chain is undergoing consolidation, as the island’s leading companies try to achieve economies of scale to strengthen their hand in materials procurement.