GCL has no record of performing due diligence on lender which walked away with $120m of its stock
An investigation into internal controls at the polysilicon maker found the company permitted deals to be signed off solely on paper in certain circumstances and also unearthed no evidence anyone had done their homework before handing over 865 million shares to secure a loan which, GCL says, never materialized in full.
Chinese PV Industry Brief: Government confirms plan to install 1.2 TW of renewables by 2030
Elsewhere, cell maker Aikosolar has announced two major wafer purchase agreements with manufacturers Shuangliang and Shangji, and Zhonghuan Semiconductor has reported solid financials for the third quarter.
Colombia’s largest PV plant comes online
The 61 MW solar facility is owned by Colombian oil company Ecopetrol.
Converting coal mines into gravity-based renewable energy storage facilities
U.K.-based Gravitricity is planning to deploy its gravity-based energy storage solution at a decommissioned coal mine in Czechia. The project is part of a plan to commence a full-scale, 4-8 MW prototype scheme in disused mines next year.
Nigeria franchising out sections of power distribution network
The move will encourage private sector renewables companies to be part of the national energy industry, a representative of the regulator told a recent webinar which considered how to accelerate clean energy roll-out in Africa.
Retractable PV awning for recreational vehicles
The 1.2 kW solar awning can be retracted automatically in the event of adverse weather conditions. The patented technology, developed by Xponent Power, may enable a wide range of additional applications such as for use by the military, for emergency relief, and residential power.
Four winning bidders in India’s gigawatt-scale solar manufacturing tender
Jindal India Solar Energy, Shirdi Sai Electricals, Reliance New Energy Solar, and Adani Infrastructure will each have half of their planned 4 GW annual production of polysilicon-to-module output subsidized by public funds.
Russia launches major solar plant in Siberia
A $40 million solar field which will double the generation capacity of the Omsk region is planned to start generating in December as part of the national government’s clean air ambitions.
What’s next for polysilicon?
The past 12 months have proved profitable for polysilicon manufacturers, as selling prices have soared to levels not seen since 2011. However, with major new capacity expansions on the horizon from most of the leading manufacturers, and new players planning to enter the scene, the market balance looks set to shift. Exawatt’s Alex Barrows rounds up where the industry stands and what might happen next.
Longi achieves 25.82% efficiency for heterojunction solar cell
The result, confirmed by Germany’s Institute for Solar Energy Research Hamelin (ISFH), was achieved on a heterojunction solar cell based on an M6 wafer.
