Risen Energy: 2015 net income soars

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The company, one of China’s biggest PV manufacturers, has focused mainly on its domestic Chinese market but has expanded its business operations to Europe and Asia.

According to China Daily, China accounts for 72.5% of Risen Energy’s total business. With the domestic market booming, the company is seeking to diversify its sales and build its own power projects following in the decline of China’s export-oriented industry.

Risen Energy reported an increase in shipments to 1,246 MW of solar PV modules and 547 MW of engineering, procurement and construction (EPC), build-operate-transfer (BOT) and build-transfer (BT) solar project installations.

“Clearly the year ahead will prove remarkable as the company continues to expand from its own cash generation,” Risen Energy said in a statement. The group is anticipating a net income of between CNY 160 and CNY 170 million in the first quarter of 2016. Risen Energy said its core objective was to manage its growth “with long-term sustainability.”

“With regionalized sales and service support structure in place and expanding, end users are assured of detailed provision of techno-commercial solutions,” the company added.

Risen Energy said it was expanding its “ultramodern highly automated manufacturing infrastructure for cell and module production” from a capacity of 2,600 MW at the end of 2015 to 3,100 MW this year. Its investment in R&D was producing “solar PV cells with efficiencies of 19%+ for polycrystalline and 20%+ for monocrystalline, as well as solar PV modules with the lowest temperature coefficient of power within the industry,” the group added.