Giga Solar Head: Biden’s New Policy to Revive Shipment of Conductive Material

With the improvement of the solar energy market this year, Giga Solar Materials Corp. (3691-TW) has benefited from some favorable factors, such as a tariff exemption for batteries manufactured in Southeast Asia, Chairman Jimmy Chen said at the shareholders’ meeting on Thursday (June 9).

With the recent improvements to operations, the resumption of shipments of conductive plasma and prospects for profitable reinvestment, the chairman expects overall company performance this year will be better than last.

The market is optimistic that Taiwan module manufacturers can benefit from the U.S. investigation of battery cell production sites in China to enter the U.S. market.

However, with the latest policy offered by the Biden administration, the previous expectations of Taiwan manufacturers to switch orders have been dashed.
Giga Solar has become the only beneficiary among Taiwan manufacturers due to its long-term supply to Southeast Asia.

General Manager Huang Wen-rui added that Giga Solar lost money last year because the silver price dropped from US$30 per ounce earlier that year to US$22 at the end of the year.

Giga Solar’s operations were also affected by the quarterly inventory loss, the pandemic that affected the delivery schedule, and the decline in the proportion of silver paste used for printing.

Looking ahead, Huang is optimistic that Southeast Asia will account for more than 50% of the company’s exports of conductive plasma due to Biden’s release of cells from Southeast Asia.

Giga Solar has also benefited from the gradual reopening of China, the gradual recovery of the supply chain, the overall demand recovery, and the silver price remaining at US$22 at this stage, all of which will help GigaSolar’s business growth.

Looking ahead, Huang is optimistic that Southeast Asia will account for more than 50% of the company’s exports of conductive plasma due to Biden’s release of cells from Southeast Asia.

Giga Solar has also benefited from the gradual reopening of China, the gradual recovery of the supply chain, the overall demand recovery, and the silver price remaining at US$22 at this stage, all of which will help GigaSolar’s business growth.