 According to an initial public offering by the company, the combined annual production capacity of the plants was projected to be 610 megawatts by 2013.After expanding production in 2008, the company announced on November 3, 2010, that it was mothballing its older plant, Fab 1, and postponing expansion of recently opened Fab 2, giving it an annual production capacity of about 300 megawatts.Market conditions were cited, with conventional solar modules manufactured in China by low-cost producers such as Suntech and Yingli offering stiff competition.