Chinese PV Industry Brief: Another factory under construction

Chinese panel maker Talesun has started construction of its new module production facility in Siyang county, Jiangsu province. The factory is being set up in an 80,000m² building and is expected to have a 5 GW annual production capacity for cells and modules. When it begins manufacturing in July, Talesun's module capacity will reach 15 GW.

Shanghai-listed solar project developer Jinko Power has reported a 32.88% year-on-year revenue drop for 2020. The company's turnover reached RMB3.58 billion (US$560 million) and net profit dropped 27.6%, year-on-year, to RMB523 million. Jinko said the Covid-19 crisis had a significant impact on its operations, due to fewer-than-expected engineering, procurement and construction contracts and several delayed projects.

China's second-largest grid operator, China Southern Power Grid, has announced around 200 GW of renewable energy capacity will be deployed on its service area–which includes the southern provinces of Guangdong, Guangxi, Yunnan, Guizhou and Hainan–this decade. The company said the first 100 GW will be installed before 2026 and the balance before 2031. The proportion of non-fossil-fuel power plants in Southern's portfolio will rise to 65% in 2030–from 56% last year–and power generation from solar and wind will rise to 61% of the total, from 52% today.

Carmaker Geely is set to establish a Zeekr intelligent electric vehicle brand through a RMB2 billion joint venture which will be 51% owned by its Geely Auto brand and 49% held by parent company Zhejiang Geely Holding Group Co Ltd. Geely also owns the Volvo, Lotus, Proton, Lynk and London EV Company marques.