Gintech Energy Corp., Taiwan’s second-biggest solar-cell maker, said it expects product prices to rise through the first half as demand improves.
International prices will probably climb about 2 percent each month, President Wen-whe Pan told reporters in Taipei today.
Global demand for solar panels may gain 20 percent this year as governments encourage the use of alternative energy to replace fossil fuels, Pan said. Global installations of photovoltaic solar systems will jump 39 percent in 2011 to 22.2 gigawatts, technology researcher Isuppli said last month.
“Market conditions have improved,” Pan said, adding that the company has been running its plants at full capacity.
Gintech, based in Miaoli, northern Taiwan, plans to boost its annual cell production capacity to 1.5 gigawatts by end- August, from 930 megawatts currently, Chairman Wenent Pan said at the media briefing.
Capital spending will rise to NT$5.5 billion ($187 million) this year from NT$1.5 billion in 2010 as the company expands capacity, Chief Financial Officer Andrew Shih told reporters.
Gintech rose 1.2 percent to close at NT$93.80 in Taipei trading. The benchmark Taiex index climbed 1.8 percent.
Motech Industries Inc. is Taiwan’s biggest solar cell maker by market value.