The Kahl am Main-based equipment maker announced it has signed a letter of intent for “more than 10” production machines, at the International Import-Export Show being held this week in Shanghai, China.
Revealing the resulting contract will be worth “a high double-digit-million euro amount” – presumably at least €55 million – Singulus said it would deliver the order for its CISARIS, SELENIUS and VISTARIS CIGS thin-film module production equipment to subsidiaries of China National Building Materials (CNBM).
The customer wants to double the annual module production capacity at its facility in Bengbu, in Anhui province, from 300 MW to 600 MW and will do so through its Singulus order.
Chinese producers undaunted
CNBM – reportedly the largest cement and gypsum board maker in China – has placed the order at a time when Chinese solar manufacturers are flying in the face of predictions of a slowdown in the world’s biggest solar market and a related global supply glut, by rapidly ramping up production capacity.
The aggressive expansionism could be justified as reports emerge of Beijing preparing to turbocharge its 2020 solar capacity target to as much as 270 GW.
Global markets have also been lifted by rumors Chinese President Xi Jinping is nearing a rapprochement with U.S. counterpart Donald Trump, that could pave the way to lifting trade tariffs imposed by both countries, including a 25% duty slapped on Chinese solar imports by the U.S.