Chinese PV Industry Brief: Shandong province wants to deploy another 35 GW of PV over the next five years

Shandong province yesterday released its energy development guidelines for the fourteenth five-year plan, up to 2025. The strategy has set an installation target of 57 GW for solar and an overall renewables target of 90 GW during that time. China National Energy Administration (NEA) statistics indicate the province had 22 GW of solar at the end of 2020.

Module manufacturer JA Solar shipped 10 GW of modules in the first six months of the year, to raise RMB5 billion (US$770 million) for new production facilities. The company posted revenue of RMB16.2 billion (US$2.5 billion), for a year-on-year increase of 48.8%. Net profit was RMB710 million (US$109 million), only 1.78% more than in the same period of last year. The company said it shipped 4.46 GW of modules in the first quarter and 5.66 GW in April-to-June. Of those, around 63% went overseas. JA Solar also announced RMB5 billion plans for a non-public offering of stock to finance 20 GW of solar ingot and wafer production capacity in Qujing city, Yunan province and an R&D center in Yangzhou city, Jiangsu.

Solar developer Shunfeng International yesterday announced it expects a loss of up to RMB42 million (US$6.47 million) from the first six months of the year, down from the RMB469 million (US$72.3 million) shed in the same period a year earlier. While first-half finance costs came down from the RMB453 million posted in January-to-June last year, to RMB290 million (US$44.7 million), the company recorded impairments and losses on disposal totalling RMB246 million (US$37.9 million) on the sale of 17 solar projects which affected the latest six-month figures.

State-owned energy company China Resources Power Holdings said on Friday it had filed papers with energy authorities for a record 16.7 GW of solar projects during the first half of the year. The company said 241 MW of solar capacity had entered commercial operation in the same period, as its operational solar fleet reached 803 MW. The utility, which has 32.13 GW of thermal power plants, wants to have renewables make up more than half of its energy mix by the end of 2025 and is planning to add 40 GW of clean energy capacity before that point.