Kong Sun surpasses 1 GW in China


The figures suggest that it connected roughly 200 MW of capacity to the grid in the second half of the year.

However, its cumulative total is far short of the 2.4 GW of grid-connected capacity that the Hong Kong-listed group set as an end-2016 target last year.

In aggregate, its PV plants generated 838.9 GWh of electricity from January-December 2016. Total generation in January 2017 soared to 74.8 GWh, up from just 32GWh in January 2016.

The group posted its biggest monthly generation gains in northwestern China’s Shaanxi province, where it owns five projects. Total generation in the province jumped roughly 140% year on year to 23.6GWh in January.

Kong Sun did not reveal the reason for the sharp rise in generation in the province.

By contrast, its 11 projects in the heavily curtailed Xinjiang region rose to just 8.4GWh, from 3.3GWh during the same four-week period a year earlier.

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The company has yet to reveal its financial results for the 2016 calendar year.

Revenue from sales of electricity in the first six months of the year jumped 352.1% year on year to roughly 205,576,000 yuan ($29.9 million).

Although Kong Sun did not hit its ambitious 2.4 GW installed capacity at the end of 2016, it has rapidly built its portfolio since early 2015, when it owned just 70 MW.

Last November, Kong Sun signed a 5 billion yuan solar financing deal with China Kangfu International Leasing.

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