Three major Chinese solar manufacturers are trimming shipment expectations for the rest of the year as a slowing global economy drains demand and proposed trade barriers threaten U.S. sales.
Yingli Green Energy Holding and ReneSola downgraded their shipment forecasts and inventory size, while Suntech Power Holdings stalled capacity expansion plans because of a “volatile macroeconomic environment.”
Yingli cut the amount of solar capacity it expects to deliver in the fourth quarter to 1,580 to 1,630 megawatts, from 1,700 to 1,750 MW, according to EcoSeed, an environmental industry news service. ReneSola decreased its expectations during the same period to 320 to 330 MW, from 330 to 350 MW.
“Weak market demand and industry oversupply continued to affect our business in the third quarter,” Renesola CEO Xianshou Li said. “We expect the challenging conditions in the global solar market to continue in the fourth quarter of this year, as well as into the first quarter of next year. We believe that conditions should improve later in 2012.”
Although Suntech saw shipments during the third quarter grow 15 percent from the previous quarter, Chairman and CEO Zhengrong Shi said the company has “excess supply.”