Diversified renewable energy firm Shunfeng International Clean Energy (SFCE) said it would continue to report a net loss for 2017, due to product ASP declines and PV power plant grid curtailments in China.
SFCE had previously reported of around US$50 million in the first half of 2017, due to a catalogue of issues that had plagued the company since 2016.
However, SFCE said that the 2017 losses would be in the region of RMB 830 million (US$130 million), down from around US$370 million in 2016.
The company highlighted two key reasons for profit warning. Firstly, product (wafers, cells and modules) ASP was said to have declined by 17% in 2017, impacting gross margins. SFCE said that gross margins are expected to have declined to 9% in 2017, down from 12% in 2016.
Secondly, SFCE said that it was still impacted from PV power plant grid curtailments in some of the regions in China that it owns and operates plants. Grid curtailment issues in Xinjiang, Gansu, Qinghai and Ningxia were said to have slightly eased during the year but restrictions, notably in Xinjiang and Gansu regions remained an issue, impacting revenue generation.
SFCE noted that due to the restriction in electricity generation in Xinjiang and Gansu the estimated loss to be around 467,000,000kWh and approximately RMB 370 million (US$58 million) in revenue.
Input your address to see if it is solar friendly and how much you can save with solar.
Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.
| kw System size | years Payback period | Lifetime savings |
No money down, 100% finance is available.
|
You design, we deliver. Enjoy solar! Get Started |
CompanyAbout Solar QC Contact us Career Promotion Program |
About SolarSolar Beginner 101 Solar QC Blog News Feed FAQ |
How It WorksEasy Step 1234 2 Min Design DIY Price Checker Design DIY |
Installer Sign UpSign up to receive more high quality fresh leads. Sign up now |
|
Go Solar with Solar QC. There’s no need to shop around since Solar QC directs manufacturers to our customers with the best prices in solar industry.
|
Solar InstallerInstaller Review Join Us Finance |
ProductPanel Inverter Racking BOS |
World Class BrandCanadian Solar Solar Edge Dual Rack |
Installer APP DownloadIOS Ipad Android |
Term & Condition• Privacy Policy• Site Map• COPYRIGHT © SOLAR QC 2016 - 2024 TEL:(818) 254-8209
Welcome to the Solar QC Website. This site equips homeowners with information regarding the most effective solar products and provides access to expert solar installers and manufacturers. The information listed in the Terms & Conditions provides a list of the services provided by solarqcgroup.com with specific user obligations in reference to content, conduct, company disclaimers, copyright, and privacy. The Terms & Conditions described are designed to protect the users and solarqcgroup.com. By accessing this website, the user automatically agrees with the content of the Terms & Conditions.
A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
Comments