Polysilicon and solar cell maker Tongwei has estimated it will generate profit of RMB4.9-5.2 billion (US$769-816 million) in the first three months of this year thanks to booming solar installation figures and product price rises.
The performance, which would be around six times better than the numbers posted for the same stage of last year, offer further evidence of the Chinese, early-year solar rush which the National Energy Administration last week said amounted to 10.86GW of new generation capacity having been added in January and February alone.
Manufacturing
Production output matched those impressive statistics with the Ministry of Industry and Information Technology yesterday reporting the 110,000 tons of polysilicon manufactured in China in the last two months was still not sufficient to meet demand.
The nation's solar manufacturers produced at least 40GW of wafers – of which only 5.1GW were shipped for export; 39.5GW of cells, and at least 21.9GW of solar panels, according to the ministry.
Chinese inverter makers produced around 27GW of products in January and February, the government department reported.
Popular content
Solar manufacturer Jinko has announced its first wind power project win, after securing 100MW of turbine generation capacity in Urumqi City, capital of the Xinjiang Uygur autonomous region.
Jinko in September signed a strategic co-operation agreement with state-owned wind company China Longyuan Power Group to develop at least 3GW of solar and wind power generation capacity over three years.
Solar developer Xinyi Energy will boost its coffers by issuing 188 million shares to two Chinese investors, the company said yesterday. Beijing-based financier Hillhouse, and the China International Capital Corp Ltd investment bank which is also based in the capital, will sign up for the shares for HK$4.14 (US$0.53) each to raise a net HK$780 million (US$99.6 million) for the developer.
This copy was amended on 30/03/22 to reflect the figure announced by Tongwei is its estimated first-quarter profit, not revenue, as was previously stated.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
3 comments
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.