Chinese PV industry brief: Jinko Power announces 1.5 GW solar project and Gaoce eyeing 10 GW of wafer production


Shanghai-listed Jinko Power says it has signed a deal to develop a 2 GW hybrid renewables project featuring 1.5 GW of solar generation capacity in Feidong county, Hefei city. The RMB12 billion (US$1.86 billion) development, which will include 500 MW of wind capacity will be developed in phases “according to … policies and business indicators,” said the power investment arm of solar manufacturer Jinko.

Diamond-wire cutting equipment supplier Gaoce Technology yesterday announced an intent to invest in monocrystalline wafer production in Yancheng City, in Jiangsu province. Gaoce, which said it had reached agreement with the local authority, wants to establish 10 GW of annual wafer making capacity through a RMB1 billion (US$155 million) factory in the city's high-tech zone, with construction of the 40,000m2 building expected next year. The plan is yet to be approved by the board of Shanghai-listed Gaoce, however.

China Energy Engineering yesterday announced it and three unnamed companies have signed an engineering, procurement and construction (EPC) contract with fellow state-owned entity Three Gorges New Energy Siziwangqi Co Ltd, to develop a hybrid renewable demonstration project. The Three Gorges Ulanqab New Generation Grid-friendly Green Power Station Demonstration project will feature 75 MW of solar capacity in its first phase, alongside 425 MW of wind capacity and “140 MW/2 hours energy storage,” China Energy said in an update to the Hong Kong Stock Exchange. Phase two will feature 125 MW of solar, 625 MW wind and “220 MW/2 hours” storage and phase three, 100 MW of photovoltaics, 650 MW of wind and “190 MW/2” hours’ storage. No timeline was given for the project, at Ulanqab City, Inner Mongolia, with China Energy stating the entire EPC contract would be worth RMB10 billion.

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Polysilicon manufacturer GCL yesterday continued the solar project capacity sell-off by its New Energy developer arm by selling a 50 MW plant to State Power Investment Corporation subsidiary Guizhou West Power Construction Co Ltd. With a sale price of RMB43.1 million (US$6.67 million) and total net proceeds of RMB306 million (US$47.3 million), GCL is anticipating to book a RMB35.6 million net gain on the deal, which will also remove a further RMB30 million of liabilities from its books.

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