Chinese PV Industry Brief: China National Petroleum Company builds 200 MW solar park

Solar manufacturer JinkoSolar yesterday announced its Tiger Neo, n-type TOPCon bifacial modules will be used by the state-owned China National Petroleum Company in its first ‘solar-powered oilfield.’ A press release issued by Jinko yesterday stated the use of PV panels “marks the beginning of a new, greener era for the oil and gas sector,” and added “solar-for-oil is a win-win in terms of emission reduction.” Quoted in the statement, Jinko VP Dany Qian said the use of solar will “help build a greener future for oil production.” The solar plant will have a capacity of 200 MW and will be located in Yumen, in western Gansu province.

The board of polysilicon maker Xinte Energy yesterday approved a proposal to extend its financial services agreement with TBEA Group Finance Co Ltd despite a shareholder rebellion which saw the holders of 22% of company stock vote against the idea at an extraordinary general meeting. Xinte is controlled by Chinese electricals company TBEA. Manufacturer China Glass experienced similar dissent to two internal purchasing arrangements at a special general meeting today, with almost 19% opposition to extending both proposals.

Module maker Longi has announced it has secured a wafer supply deal from Zhejiang-based TOPCon module manufactuer Dal Solar. Under the terms of the agreement, Longi will sell 1.15 billion wafers to Dal Solar over the 2022-2023 period. The value of the contract is estimated at around RMB7.04 billion (US$1.1 billion).

Independent shareholders in state-controlled glassmaker Irico New Energy will vote at an EGM next month in Xianyang, in Shaanxi province, on whether to carry out an initial public offering (IPO) on the ChiNext board of the Shenzhen Stock Exchange which could raise up to RMB2 billion (US$313 million) for new photovoltaic glass production lines. The exercise would devote the initial RMB1.5 billion (US$235 million) raised to the first phase of an ultra-thin and high-transmissivity photovoltaic glass project upon which construction started in September, in Shangrao City, Jiangxi province. Irico, which is controlled by the state-owned China Electronics Co, wants to build three 1,000-ton-per-day glass melting furnaces and 15 process production lines for PV glass, with the project set to be finished in 2023, the company said on Friday. Up to RMB500 million extra raised by the float would be used for working capital. The vote, which will also propose removing the construction and operation of solar projects from the company’s articles of association, is due to be held on December 15.