Chinese PV Industry Brief: Slightly lower polysilicon prices and another 20 GW of PV wafer capacity


According to the China Nonferrous Metals Association, polysilicon prices declined by about 1.4% to RMB207 (US$32.1) per kg last week. This is the third consecutive drop since July 7. According to the trade body, several silicon factories came back to production from yearly maintenance and resulted in an increased output compared to June. Furthermore, it reports that 9,000 MW of the raw material was imported and that the total polysilicon supply for the period reached up to 50,000 MT, which should almost meet the market demand.

Shanghai-listed diamond wire cutting equipment supplier Gaoce Technology announced on Tuesday a plan to increase its PV wafer capacity by another 20 GW. A few weeks earlier, it had revealed the intent to invest in monocrystalline PV wafer production in Yancheng City, Jiangsu province. The new production unit will be located in Leshan City, Sichuan Province, where Tongwei has also planned to build more polysilicon capacity. Gaoce said the company will invest around RMB1.65 billion (US$256 million) in this project.

PV module manufacturer Hareon Solar has filed for bankruptcy with the People’s Court of Jiangyin City, Jiangsu Province on Thursday. The court stated in a document that, based on a qualified financial audit, Hareon has total owner's equity of minus RMB 5,850,861,239, which means the inability to pay off debts. The company will soon enter the bankruptcy liquidation procedure.

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Independent shareholders at state-controlled manufacturer Luoyang Glass on Wednesday unanimously approved the RMB182 million ($28.1 million) acquisition of 60% of glassmaker Qinhuangdao North Glass Co Ltd from the China Yaohua Glass Group Co Ltd warehousing and sales entity, also controlled by Luoyang owner China National Building Material Group. Louyang is planning the help its PV glass business, including by expanding production.

Polysilicon maker GCL-Poly has announced plans to sell off another 28 of its solar project estate, amounting to around 301 MW of generation capacity, to state-owned entity Yixing Hechuang. The sale price of RMB481 million ($74.3 million) will book a net loss of RMB50.5 million ($7.8 million) but will generate total income of RMB1.16 billion ($179 million) for GCL while reducing its liabilities by RMB1.24 billion. Two of the PV projects being transferred to Shanghai Electric-owned Yixing Hechuang, which have around 22 MW of generation capacity between them, will be subject to a put option, said GCL on Wednesday. The GCL-Poly subsidiary selling the plants would have to buy those two back if they fail to be registered to receive subsidies within three years of the transaction.

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