This represents increases of 100 MW in cell capacity and 200 MW in module capacity compared to the end of the second quarter of 2010. As announced in the Company's press release dated July 19, 2010, the cell capacity is scheduled to increase to 550MW by early in the first quarter of 2011 through debottlenecking and the enhancement of manufacturing processes.
In addition, the Company announces that it plans to further increase capacity in the upstream segments of its manufacturing operations in 2011. The Company plans to increase:
· Cell capacity from 550 MW to 820 MW;
· Wire saw capacity from 400 MW to 572 MW; and
· Ingot capacity from 360 MW to 510 MW.
The Company expects to ramp production of the new cell, wire saw and ingot lines in the second quarter of 2011 and complete the expansion by the third quarter of 2011. The total capital expenditures required for this expansion, including the construction of new buildings and related infrastructure, are approximately $130 million. These capital expenditures will be fully financed by the recent equity injection from the Hanwha Group, the Company's cash on hand, as well as net cash flow from operations.