Chinese PV Industry Brief: New supply deal for Daqo plus more cell and PV glass production capacity


Chinese polysilicon manufacturer Daqo has secured a long-term supply agreement with PV equipment provider and monocrystalline wafer manufacturer Wuxi Shangji Automation. Under the terms of the agreement, the polysilicon maker will provide Wuxi Shangji with 21,600-32,000 MT of high-purity mono-grade polysilicon through 2022. “Actual prices will be negotiated by both parties on a monthly basis according to market conditions,” said Daqo. “As part of the supply agreement, Shangji will make an advance payment to Daqo New Energy.”

Shanxi Coal International Energy Group, a Shanghai-listed state-owned energy firm, announced on Friday the company is setting up a joint venture with two unnamed Chinese companies to establish a 10 GW heterojunction (HJT) solar cell production facility. The project’s first phase will see the deployment of 3 GW of production lines in Jinzhong city, Shanxi province, thanks to a RMB3.2 billion (US$462.6 million) investment.

Shenzhen-listed PV components manufacturer Almaden announced on Friday it intends to raise up to RMB1 billion through a private share offering and invest in several glass projects including a large-size thin PV glass scheme, a building-integrated PV anti-glare coating glass smart factory and a new R&D center. Almaden said RMB513 million will be invested into a facility in Fengyang city, Anhui province, for 12 production lines compatible with large-size glass with a thickness of less than 2mm.

Monocrystalline module manufacturer Longi today announced its latest wafer prices, with no change for mainstream products. The mono P-type M6 wafer, with a 175μm thickness (166/223mm), is priced at RMB3.25 (US$0.47) per piece. For mono P-type G1 products (158.75/223mm) of 175μm thickness, the price is RMB3.10. Longi also released an M10 wafer (182/247mm) with a thickness of 175μm for RMB3.90.

State-owned solar developer Panda Green finally published its audited accounts for 2019 today, with new auditor Pricewaterhousecoopers revising down the annual loss from RMB3.83 billion (US$554 million) to RMB3.73 billion. The financial lift came despite the impairment related to historical deposits paid to secure the rights to projects which never took shape rising RMB72 million to RMB1.09 billion as the company disclosed more details of where those missing deposits ended up.

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Module maker Trina Solar announced it has been named “the world’s most valuable PV module brand of bankability” by Bloomberg New Energy Finance (BNEF). It is the sixth time in the last seven BNEF rankings that Trina has secured the accolade.

The GCL-Poly Energy Holdings solar project business of fellow polysilicon manufacturer GCL on Friday warned shareholders it expects a first-half loss of at least RMB1.5 billion, after a RMB751 million loss in the same period of last year. The doubling of losses has been put down to the impairment of assets, a solar project sell-off, lower wafer sales and a weaker renminbi against the U.S. dollar. The company expects to publish its unaudited six-month figures on Friday.


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