Chinese private equity firm Hillhouse Capital announced on Sunday that it became the second-largest shareholder of China-based monocrystalline module maker Longi. The company agreed to acquire 226 million shares at a price of RMB70 per share for a total value of RMB15.8 billion ($2.4 billion). After the transaction was announced, the stock value of Longi jumped by 12.2% in two trading days.
Meanwhile, in a separate transaction, Longi itself has become the second-largest shareholder of Yunnan Tongwei, a unit of Chinese cell and module manufacturer Tongwei Group. The company, which had a market value of RMB1.2 billion before the transaction, was solely owned by Tongwei. Longi has now acquired 49% of the manufacturer's total shares, raising its market value to RMB1.6 billion.
Screen printing and PECVD equipment supplier Maxwell Technologies announced, on Monday, a plan to invest RMB1.5 billion ($227 million) in a new heterojunction solar cell production facility in Suzhou City, Jiangsu province.
The shanghai-listed industrial conglomerate, Hebang Group, announced last Friday its intention to enter the renewable energy business. Hebang said it would invest around RMB6.2 billion ($940 million) in a new factory to produce solar glass and panels. Located in Chongqing City in southwestern Chinam, the factory will occupy an area measuring 900,000 square meters and comprise at least two glass production lines, one producing 1,000 MT per day and the other 900 MT. The factory is expected to have a total annual PV glass capacity of 4.5 million square meters. The manufacturing facility is also set to host a 4 GW module production line.
This copy was amended on 04/01/20 to indicate the Maxwell Technologies company mentioned above is not the U.S.-based company of the same name which is owned by Tesla.
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