Chinese PV Industry Brief: New supply deals for Xinte, Chint, Flat Glass, Trina, Longi and Risen

China-based power transmission and distribution equipment provider Chint Group announced on Thursday that one of its subsidiaries secured a three-year supply agreement with Baotou Hongyuan, a unit of PV production equipment provider Wuxi Shangji Automation. Under the terms of the agreement, Baotou Hongyuan will sell approximately 882 million mono-crystalline wafers to Chint for an estimated amount of more than RMB 4 billion ($634 million), according to the latest average selling price indicated by Taiwanese market research company PV Infolink. The two companies agreed on the financial terms of the deal for 2021, while for the following two years the terms will be negotiated at the end of the year.

China National Nuclear Corp. (CNNC), one of China’s largest state-owned energy groups, announced on Wednesday that Longi, Trina and Risen were selected as preferred module providers for its most recent procurement round. CNNC held 11 different tenders for a total solar module capacity of 1.31 GW. Longi secured the largest amount of capacity, 917.3 MW, while Trina and Risen were awarded the remaining share.

The government of Jianhu County, in Jiangsu Province, has signed an agreement with Jiangsu Lushan New Material, a unit of Guangzhou Lushan New Material Group, a provider of functional polymer adhesive materials, for the construction of a 20 GW EVA factory relying on 18 production lines. Furthermore, the county government has signed a similar agreement with Jiangsu Runda PV Co., Ltd to build a 3.5 GW panel manufacturing facility at an undisclosed location in the region. 

Polysilicon manufacturer GCL-Poly placed 3.9 billion shares at HK$1.08 ($0.14) per share to raise a net HK$4.15 billion ($535 million) as it tries to postpone settlement of $500 million worth of senior notes due to expire in eight days’ time. Note holders have been asked to indicate whether they would swap the notes for new three-year investments by Tuesday. The shares placed yesterday amounted to 15.57% of the GCL-Poly Energy Holdings business.

Glass maker Flat Glass Group yesterday announced a RMB 8.91 billion ($1.38 billion), three-year deal to supply 34 GW/234 million square meters of solar module glass to Chinese manufacturer Risen, with the contract to run until the end of 2023. The unit sale price will be negotiated on an ongoing basis “by both parties through friendly consultation on a win-win basis with reference to prevailing market prices,” Flat Glass told the Hong Kong Stock Exchange yesterday.

Polysilicon producer Xinte also announced a big contract after signing a five-year deal to supply 70,350 tons of poly to PV appliance maker Wuxi Shangji Automation from this month until December 2025. Based on the latest polysilicon price listed by Taiwanese market research company PV Infolink, the deal would be worth RMB 6.05 billion, Xinte told the Hong Kong exchange yesterday.

Jetion Solar yesterday announced it had supplied 100 MW of modules to a solar project in Shaanxi province. The solar manufacturer said more than 223,000 of its JT SSh (B) 445/450 W, monocrystalline, dual glass modules were shipped in the final three months of last year. Developer Sungrow connected the plant to the grid on December 29.

*The article was amended on January 25 to reflect that Chint was the buyer and not the seller in the deal with Baotou Hongyuan.