Day4 Energy Inc. (TSX:DFE) is expanding production at its Polish manufacturing facility to meet increased demand for its solar panels.
The Burnaby-based company said Thursday morning that demand had already led the company to bring its third-party manufacturing plant up to full capacity earlier this year.
Day4 Energy indicated that market demand for solar, or photovoltaic, energy products is underpinned by renewed investor appetite in existing and emerging markets and increased bank debt availability. This despite the news that Germany, one of the biggest market for solar power, is reducing incentives in its solar power subsidy program.
The first expansion phase will be complete by mid-May, according to the company, with the second phase online by the end of June.
Last week, Day4’s president George Rubin, told BIV during an interview for an article appearing in an upcoming issue that the European market for renewable energy is significantly more advanced than where the Canadian market is today.
“We do over 90% of our sales in Europe,” said Rubin, “We’re actually a much better known company in Germany and Italy than we are in B.C. frankly, because that’s where most of our product is.”
By Curt Cherewayko