Chinese PV Industry Brief: Tongwei wants to reach 1 million MT polysilicon capacity by 2026

Polysilicon and solar cell manufacturer Tongwei said today its reached a polysilicon capacity of 180,000 MT and a solar cell capacity of 45 GW at the end of December 2021. The company also announced its expansion targets for the coming years. Polysilicon capacity is expected to reach 230,000 MT by the end of 2022 and 350,000 MT at the end of 2023. Furthermore, Tongwei said it expect to reach between  800,000 and 1 million MT of annual capacity by end of 2026. As for the solar cell business, annual capacity is planned to expand to 70 GW by the end of 2022 and 102 GW by the end of 2023. The company also said it will raise the efficiency of its PERC cells over 23.5%, TOPCon cell over 24.5 and heterojunction (HJT) cells over 25%.

Inverter maker Ginlong Solis has reported a 59% year-on-year increase in revenue for fiscal year 2021, in which turnover totaled CNY 3.3 billion ($211 million). Net profit grew by 49% to CNY 474 million ($74 million)

State-owned Beijing Energy International on Monday reported its 102 clean power plants – including seven wind farms – generated 1.17 TWh for the grid in the first three months of the year, with a further 8.67 GWh of solar energy produced directly for consumers, with any excess settled with the grid. The developer said it had 4.07 GW of solar and wind generation capacity at the end of last month.

TBEA-owned polysilicon maker Xinte Energy has published unaudited figures showing it made a net profit for shareholders of CNY 2.49 billion ($380 million) in the first three months of the year, on the back of operating revenue of CNY 6.71 billion and costs of CNY 3.15 billion. In a financial update to the Hong Kong Stock Exchange on Friday, Xinte said it had CNY 64.1 billion worth of assets at the end of last month.