Solar companies announce second quarter 2013 results

Several solar companies announced second quarter 2013 results including China’s Trina Solar Ltd and JinkoSolar Holding Co., Ltd and Ontario-based Canadian Solar Inc.

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Highlights of Trina Solar’s 2013 second quarter report include a 64.6 percent increase in solar module shipments from the first quarter of 2013 to 647 Megawatts (MW). Net revenues increased 69.4 percent from the previous quarter to $440.7 million while gross profit also increased from the first quarter’s $4.4 million to $51.2 million.

Trina Solar Chairman and CEO Jifan Gao said “I am pleased to announce that we achieved record quarterly shipment numbers in the second quarter of 2013, exceeding our original guidance by more than 100 MW.” Goa adds that the average selling price of modules has stabilized and that they have been able to reduce non-silicon costs through their efforts to improve operational efficiency.

The company also announced recently that they will supply1.1 million photovoltaic mutli-crystalline modules for the 345 MW Copper Mountain Solar 3 Project in Boulder City, Nevada. AAMEC will construct the project for owner and operator Sempra U.S. Gas & Power.

JinkoSolar reported that their total solar product shipment for the 2013 second quarter was 489.2 MW consisting of 460 MW of solar modules, 11.1 MW of silicon wafers and 18.1 MW of solar cells. This is an increase of 44.5 percent from the 338.6 MW from the previous quarter.

Their total revenues increased 51.7 percent from the previous quarter to $287.6 million while their gross margin was 17.7 percent, an increase of 5 percent from the previous quarter. The company also reported that their in-house gross margin was 18.3 percent compared to the previous quarter’s 13.1 percent.

JinkoSolar also announced that they will supply AMEC with 39 MW for three solar projects in the U.S. The projects are located in Marion County, Indiana and are the largest utility-scale solar development in Indiana.  JinkoSolar will also supply 25.8 MW of solar modules to the first private solar park in India located in Mandrup Village, Solapur District, Maharashtra State, India. The project is being developed by Enrich Energy Pvt Ltd.

Guelph, Ontario-based Canadian Solar Inc. announced that their solar module shipments for the second quarter 2013 was 455 MW, also higher compared to 340 MW in the previous quarter. Net revenue for the company increased to $380.4 million from the first quarter’s $263.6 million. Gross margin also increased to 12.8 percent from 9.7 percent in the same period.

In the second quarter, the European, American, and Asian and all other markets markets represented 10.6 percent, 37.8 percent, and 51.6 percent of net revenue respectively. The company’s gross profit in the second quarter was $48.7 million which is also an increase from the $25.6 million in the previous quarter.

Canadian Solar closed the sale of a 10 MWac solar power plant valued over $53.2 million to TransCanada during the second quarter of 2013. Also during that quarter, Canadian Solar agreed to sell four solar power plants to BluEarth.

Author bio: G. Castaneda is a freelance writer and solar power enthusiast. When he’s not enjoying the outdoors on his bike or hiking up mountains, he’s updating the world on everything solar at solar power today.

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