BEIJING, Nov. 2, 2009 (Xinhua News Agency) -- China-based solar products producer China Solar Photovoltaic SA (CNPV, ALCNP.NYSE Euronext) is in the middle to final phase of the process to list on the NASDAQ, which the company hopes to complete by the end of December, said a CNPV source.

CNPV plans to use the listing's proceeds to expand its production capacity.

Veerraju Chaudary, chief technology and operation officer of CNPV, was quoted by media as saying that the company requires 40 to 50 million US dollars this year to add a production capacity including 30 MW of silicon ingots, 50 MW of solar wafers and cells, and others.

Given improved market sentiments in 2010, CNPV plans to spend another 40 to 50 million dollars to expand its capacity of solar cells and modules.

The company is also considering bank loans to finance its expansion plans in a bid to achieve economies of scale.

CNPV was listed on the Alternext exchange in August of 2008. But because of the global economic crisis, it has shelved its plan to expand capacity to 300 MW.

The CNPV source said that the company did not see any fewer overseas orders despite dumping complaints made by the US and Germany, it gained more solar product orders in fact.

CNPV has realized about 30 percent growth so far this year, said the source.