Suntech Solar Panels Sold Out Through Early 2010
Suntech Power Holdings Co Ltd's (STP.N) solar panel is sold out through at least the second quarter of 2010, a company executive said on Tuesday.
"We were basically in a sold-out situation in Q4 and we're in a sold-out situation at least through Q2," Steve Chadima, vice president of external affairs at Suntech, said at a conference hosted by Needham and Co in New York.
"We're basically selling anything we can produce and I know we're not alone," Chadima said.
Demand for solar power products has rebounded after a difficult 2009, when the global credit crisis dried up financing for new projects and panel prices plummeted.
Still, prices for solar panels are not expected to rise significantly in 2010, said Simmons and Co analyst Burt Chao.
"There's no room for prices to rise," Chao said, citing pricing competition among solar players and the natural decline in price for panels that convert sunlight into electricity.
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