Phono Solar Technology Co., a Chinese state-owned solar-panel maker, expects growth in its home market to speed up in the coming six months.
Phono Solar targets global sales of about 400 megawatts of solar modules this year after selling about 300 megawatts in 2011, said Eric Yuan, the company’s marketing director. The company seeks by the end of the month to determine whether to increase its production capacity of 450 megawatts.
“The Chinese solar market grew fast in the first and second quarter,” Yuan said today in an interview on the sidelines of the Intersolar conference in Munich. “It will even grow faster in the second half of the year.”
Phono Solar, which has about 500 employees, last month said it would team with Suntech Power Holdings Co. to jointly develop projects in China, plans 50 megawatts of solar farms this year in China’s eastern provinces of Jiangsu and Shandong and the northwestern region of Xinjiang.