German solar firm notes silicon supply problem

31 October 2008 19:04  [Source: ICIS news]

TORONTO (ICIS news)--Germany solar firm Q-Cells said on Friday that its Norwegian silicon supplier Elkem Solar had reduced production targets and would not deliver targeted volumes.

 

Officials at Elkem’s offices in Oslo could not immediately be reached for comment.

 

But Q-Cells, described as the world’s largest solar cell producer, said it had secured additional deliveries from other suppliers to make sure it could meet its production targets for 2009.

 

In July, the company signed a contract for an additional 6,000 tonnes/year of silicon from 2010 to 2013 with Canadian producer Becancour Silicon, a wholly-owned subsidiary of Toronto-based specialty metals firm Timminco.

 

Under an earlier deal, Becancour was to supply Q-Cells with 3,000 tonnes of silicon next year.

 

Silicon markets were not expected to perceptibly ease before the end of 2009, despite the build-up of capacities in the recent past, Q-Cells said in its latest six-month financial report to 30 June.

 

Q-Cells' shares were up 5.73% to €30.84 ($40.05) in Frankfurt.

 

The stock lost 56.73% of its value in the past 30 days in the wake of the meltdown on global capital markets.

 

($1 = €0.77)

 

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By: Stefan Baumgarten
+1 713 525 2653



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