Risen Energy announced a new plan on Saturday to expand its annual cell and module production capacity by 13 GW. The company said it will invest around RMB11 billion (US$1.57 billion) in the expansion plan. Risen intends to invest RMB2.2 billion to ramp up cell and module capacity at its Malaysian factory by 3 GW. The manufacturer will spend RMB4.4 billion to set up 5 GW of solar cell production capacity and 5 GW of annual PV module output at its factory in Chuzhou, in Anhui province. The manufacturer aims to finalize the first phase of expansion within 18 months and hopes to wrap up the second phase within the following three years. Risen also plans to add 5 GW of cell and module production capacity at its factory in Yiwu, in Zhejiang province. It said it will invest RMB4.4 billion in the Yiwu expansion, which will be completed within two years.
Datang Group announced the results of its fiscal year 2020-21 PV module tender on Tuesday. Trina Solar, JA Solar and Longi shared the entire order. Trina Solar won 2.39 GW, Longi took 1.84 GW and JA Solar grabbed 1.27 GW, said state-owned Datang.
Panda Green has finally published the findings of a KPMG investigation into deposits paid in 2017 to secure the rights to develop Chinese solar projects that never materialized. The auditor found HK$12 million (US$1.55 million) of the cash ended up in the personal bank account of Alan Li, CEO of Panda Green until June 2019. It was revealed, Li ordered the payments outside the group’s usual procedures for authorizing spending. The fate of the missing deposits has held up publication of the developer’s 2019 earnings statement. Panda Green said on Sunday the Covid-19 pandemic has once again delayed plans to publish its full-year results, this time until August 24. The company plans to hold its annual general meeting on September 2.
Trina Solar has unveiled its next-generation series of Vertex solar panels – which can purportedly generate up to 600 W – just five months after launching its first 500 W-plus solar module. At a press conference last week at its headquarters in Changzhou, in Jiangsu province, Zhang Yingbin – head of product strategy and management – discussed a panel series that will include two products for international customers. The company will produce a 6×10 cell, bifacial model it claims can generate up to 600 W and a 5×11, 550 W double-sided module. Building on its 210mm-wafer-based, multi-busbar, high-density 500 W-plus products, Trina Solar said it managed to ramp up output with the new Vertex series by using half-cut cells, rather than trisection-cut ones. “The maximum module efficiency is up to 21.2%,” said Zhang.
GCL System Integration Technology, meanwhile, announced its first-half earnings forecast last week. The Shenzhen-listed solar module maker expects to record a loss of RMB150-220 million, from a RMB18 million first-half net profit last year. It listed factors which have negatively affected its business this year, including the pandemic, project delays and cancellations in major markets and financial pressures.