Total solar rev is about 10%, still almost entirley FSLR. The cost per a panel for CdTe is only a cent or two. FLSR has scaled back it's expansion plans, but will still probably result in a doubling over three years instead on two. CdTe seems to be winning the large solar farm battle hands down with Solar Millenium (solar thermal) exiting the market, still no volume producer of CIGS and FSLR giving up on CIGS research.
Agree the debt is mananageable as he cash flow is strong.
My main worry is the effect any global slowdown could have on the Bismuth market (about 40% of rev.), but so far the price is holding ok. Another worry is that, like I suspect most (all?) investors in VNP, I don't really understand the Bismuth market and VNP's investor relations is virtually non-existant. So it's either or real gem or something that could bring the company down, I have no way of really knowing.