Canadian solar firm Day4 Energy (TSX: DFE) is expanding its third party manufacturing capacity in Europe from 50 megawatts (MW) annually to 120MW.
The first phase of expansion, an increase to 75MW capacity, will be completed by mid-May and the expansion to 120MW will be completed by the end of June.
The company said additional capacity is needed to meet increased demand for its photovoltaic products.
"This decision is a direct result of a significant increase in demand that has allowed us to bring our manufacturing facilities in Poland to full capacity earlier this year. We believe that despite the upcoming changes to subsidy programs in Germany, market demand for PV products will continue to be underpinned by renewed investor appetite in existing as well as emerging markets and increased bank debt availability", said George Rubin, president of Day4 Energy.
Rubin added that the increase in production volume should allow the company to realize a reduction in costs.
The current production mix at the facility is focused on the company’s 48MC-S module. However, Day4 Energy expects that demand for its newes module (60MC-I) will require 80% of production capacity by the third quarter of this year.
Last month Day 4 Energy announced the acquisition of Germany’s ACI-ecotec GmbH & Co–a solar equipment manufacturer.
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