Chinese PV Industry Brief: Tongwei and Jinko team up, as NEA sets new 2030 targets


On Feb 10th, just two days before China's Lunar New Year, a consultation paper released by the National Energy Administration (NEA) said China will increase the share of renewable energy power consumption to 40% by end of 2030. Non-hydro renewables, primarily wind and solar, are set to represent 25.9% of the overall share.

The target proposal, which includes objectives delegated to local governments at province, municipality, and autonomous region level, is being sent to the NEA’s provincial branches, as well as major Chinese state-owned energy companies for “comments and suggestions” which need to be received by Feb 26th.

NEA said this target proposal is set to “ensure achievement of the policy target of non-fossil energy accounting for 25% of primary energy consumption by 2030” set by Chinese President Xi Jinping in 2020. Once the targets are finalized, NEA will formally implement the objectives and take the responsibility for supervision of their implementation.

Tongwei teams up with Jinko

Silicon cell manufacturer Tongwei has signed an agreement for a strategic cooperation partnership with JinkoSolar, to focus on better supply chain cooperation.

Tongwei will invest and take 30% shares in a joint venture with Jinko for wafer manufacturing with an annual capacity of 15 GW. Meanwhile, Jinko will also invest and hold 35% shares in a new polysilicon manufacturing base with an annual output of 45,000 metric tons (MT).

Additionally, Jinko committed to supply an additional 6.5 GW of silicon wafers to Tongwei from 2021 to 2023, based on a previously announced silicon purchasing order made from Tongwei. Last November, the two companies signed a long-term purchasing order that will see Jinko buy a total of 93,000 MT of polysilicon from Tongwei over the same period.

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