Demand for SoliTek solar modules grows
Vilnius-based solar module manufacturer SoliTek increased sales revenue by 273% in the first half of 2022 compared to the same period in 2021. This is mainly due to the growing interest in solar PV not only in Lithuania but also across Europe. Growing export volumes also contributed to the company's strong performance.
In the first six months of this year, the company's sales grew significantly in almost all export markets. The company exports to more than 20 countries, with Sweden (2.4 times), Germany (5.3 times), Luxembourg (6 times) and the Netherlands (4 times) showing the best export performance and export growth compared to the same period in 2021.
According to Julius Sakalauskas, SoliTek's CEO, SoliTek products have found their niche in Switzerland, France, Italy and Spain. "SoliTek has not only expanded its geography, but at the same time gained a share in these markets. In this first half of the year, we have found customers there not only for our modules but also for the innovative solutions we offer. We see great prospects for the Italian market. Since April, we have had a representative office in Italy. Here we are talking about specific projects where we can apply our experience, knowledge and technology," says the SoliTek CEO.
Concerned about high electricity bills, Lithuanian consumers also turned to renewable energy, which boosted SoliTek's sales. In the first half of 2022, sales in Lithuania grew by 55% compared to the same period in 2021.
"The demand for our products is growing rapidly, so in order to increase and maximise production volumes, we have switched to a 24/7 operation from 1 August. With our capacity fully sold out by the end of the summer and partly by the end of the year, so the company is investing in further development and automation," says Julius Sakalauskas, CEO of SoliTek.
The world's energy sector is concentrated in solar, wind, electricity transmission/distribution and hydroelectric power. For example, investment in solar power plants alone is higher than investment in natural gas, coal-fired and nuclear power plants combined. According to J.Sakalauskas, European producers must be ready for a qualitative leap, therefore SoliTek, as one of Europe's manufacturers, continues to develop its products, which are delivering long-term sustainable solutions.
SoliTek's latest technological and qualitative achievement - SOLID Bifacial has passed the 10500/5400Pa load test, which means it can withstand 2 tons of real weight - the weight of a white rhino. It is now definitively clear that it is not afraid of the winter either, as it can withstand a 10.5 meter snow cap. The world's only EXTREME LOAD module!
A couple of years ago SoliTek set the strategic direction – to focus on building most efficient and technologically advanced solar plants and parks with maximum possible life span. Only by offering completely innovative technological solutions SoliTek can effectively compete with Asian manufacturers. The results have already shown, that deliberate investment in state-of-the-art technology is more profitable than rebuilding standard designs.
Growing interest in integrated roof solutions
SoliTek increased sales revenue by 55 % in the first three quarters of this year compared to the same period in 2021. This is mainly due to the growing interest in solar PV not only in Lithuania but also across Europe. Growing export volumes also contributed to the company's strong performance
SoliTek increases production volumes
Solar module manufacturer SoliTek has started working four shifts instead of three since 1 August and has recruited almost 30 additional employees. Part of the jobs are intended for citizens of Ukraine. Currently, 14 Ukrainians are already working for the company.