Chinese PV Industry Brief: Jinko switches on 8 GW TOPCon factory, Tongwei announces skyrocketing profits

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Solar manufacturer JinkoSolar announced on Wednesday that its 8 GW TOPCon cell factory in Anhui Province has started manufacturing activities. Construction on the facility began in September. JinkoSolar is also is set to issue 2 billion of the 10 billion shares its main operating unit, Jinko Solar Co Ltd, will have following its planned initial public offering (IPO) on the Sci-Tech innovation board of the Shanghai Stock Exchange this month. The Shanghai Stock Exchange is expected to confirm the IPO pricing on January 13. The company will stage a roadshow for potential investors from today until Tuesday, the Shanghai exchange stated yesterday. The issuance and shares subscription date is set to be on Jan. 17 with the results of the IPO expected on Jan. 21.

Polysilicon supplier and solar cell maker Tongwei announced on Thursday it expects to achieve a net profit of up to RMB 8.5 billion ($1.33 billion) with a YoY increase of around 136%. The company said the significant profit increase is due to strong demand and high prices for polysilicon. Its production lines are currently operating at full capacity, the manufacturer also stated.

Shanghai-listed Linyang Energy has been granted approval by the National Development and Reform Commission (NDRC) to deploy 300 MW of PV capacity linked to 45 MW/180 MWh of storage. Including this project, the company now has around 700 MW of PV projects under development linked to 90 MW/330 MWh of storage. At the end of 2021, Linyang had over 1.6 GW of solar PV farms in operation, more than 6 GW of combined capacity from PV projects under development and storage projects totaling 3 GWh.

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