SolarWorld, one of Germany’s hottest companies, expects a 25 per cent growth in sales and net profit this year as customers snap up its solar wafers, cells and panels.

“Our products have been sold out for 2005. We are now writing contracts for 2006,” chief executive Frank Asbeck was quoted as saying in a Reuters report.
Since the end of 2002, SolarWorld shares have risen around 14 times, boosting its market value to around 440 million euros ($574 million) currently from 32 million.
SolarWorld and local rivals like Q Cells and Conergy have benefited from Germany’s renewable energy law that guarantees above-market prices for solar power fed into electricity network for 20 years from last year. Asbeck said the company plans to invest more than 150 million euros over the next two years to boost its capacity, which is running full steam now.
“We are focusing on being the biggest wafer producer (in the world),” Asbeck said, as he outlined the firm’s vision.
“In every module (solar panel) around the world, there should be a wafer from SolarWorld, like the chip from Intel in most computers,” he said.