Chinese PV Industry Brief: Longi to grow by 10 GW, China opens world’s largest floating PV project

Share

Longi said this week that it has cleared all regulatory obstacles and plans to finalize the purchase of manufacturer Zhejiang Yize later this month. The group’s Longi Green Energy Technology unit will pay RMB1.78 billion (US$253 million) plus a variable sum to be determined by the business’ three-year future performance for the Zhejiang-based company. Zhejiang Yize currently produces 7 GW of modules per year and operates 3 GW of annual cell capacity in Vietnam.

Shangji Automation has revealed plans for an 8 GW monocrystalline silicon ingot production facility in Inner Mongolia. The Shanghai-listed equipment manufacturer will invest RMB2.8 billion in the fab, which will be commissioned in 2022.

Tongwei and Huitai Group, a salt producer and aquaculture specialist, have connection the world’s biggest floating solar project to the grid. The 300 MW plant in Binzhou, Shandong province, will generate power for Huitai’s operations.

Jinergy said this week that it has completed a successful first run of the company’s 100 MW heterojunction (HJT) cell production line in Jinzhong, Shanxi province. It claimed that the tests, based on the 166mm2 M6 wafer, will give it an advantage in HJT cell production. It expects its new products to offer a conversion efficiency rating of 24.2% this year.

JinkoSolar will supply 126 MW of bifacial PV modules to expand a 160 MW solar project in Chile. The PV plant, at Antofagasta, has been generating around 400 GWh from 668,160 Jinko panels per year since it was commissioned in 2016: Its output is set to rise to 789 GWh with the addition of 315,900 modules, according to the manufacturer.

Panda Green said this week that it expects to develop 500 MW of new capacity this year and the same amount in each of the following two years at a cost of at least RMB2 billion. The Hong Kong-listed solar developer revealed the goal as it announced its intent to use financial services offered by state-owned major shareholder Beijing Energy Holdings. The proposed services, including unsecured loans and cash deposit facilities, will be subject to a vote by independent shareholders at a special general meeting, with more details expected by Aug. 31. Panda Green had announced it would reveal on Friday the findings of a KPMG investigation into RMB1,022 million in missing deposits paid by the company in 2017 to secure development rights for solar projects which never materialized. No announcement was made on the Hong Kong exchange relating to the investigation, however.

BYD published earnings figures for June and the first half this week showing that ‘new energy vehicle’ sales fell 58% year on year in the first six months of 2020. The only bright spot for the Hong Kong-listed automotive manufacturer said petrol-powered vehicle sales rose 19% overall, helped by a 187% six-month rise in SUV sales to 15,978 units.