News Article
USE Manufacturer Closes Site
Solyndra announces closure of Fab 1 as orders shrink by 50% of original estimate
According to a report in The New York Times, USA based dollar panel maker Solyndra is planning to close an older manufacturing plant with resultant job losses. The move is been seen by USA financial commentators as a sign of increasing competition from Chinese manufacturers with their dominance of the silicon based solar markets. The company however, placed a more pragmatic spin on the move suggesting they will devote resources to the newly opened Fab 2. This is despite the company stating the opening was to spur the rapid expansion that was expected.
The company abandoned its public stock offerings earlier in the year after halving its production capacity estimates to around 300MW by 2013.
Solyndra specialises in thin film PV modules that have been hit hard by the reduced cost of silicon based technologies. Something a couple of years ago was not expected to occur. Thin Film PV suffers from less efficiency at present and the cost difference was the USP until the technology could mature.
Despite the setbacks the company remains positive about its future plans with the option of re-opening Fab 1 or expanding Fab2 depending on how the technologies and markets play out.