Chinese PV Industry Brief: Trina to build 15 GW solar module factory

Trina Solar has signed an agreement with the government of Huaian, Anhui province, to build a 15 GW cell and panel factory. The company said it will invest CNY 6 billion (837.6 million) in the new manufacturing facility.

GCL Technology has announced plans to build a manufacturing base in Wuhai, Inner Mongolia. It aims to produce 100,000 tons of granular polysilicon per year and 150,000 tons of high-purity nano silicon at the site. Those numbers would take the company’s total granular poly and nano-silicon capacity from 400,000 tons per year to 500,000 tons per year, and from 150,000 tons per year to 300,000 tons per year, respectively.

Irico New Energy is planning a big increase in expenditure on production equipment. The state-owned solar panel glassmaker wants to raise the maximum amount it will pay for equipment this year from Zhongdian Irico from CNY 185 million to CNY 335 million. The ceiling for next year will rise from CNY 246 million to CNY 467 million, if independent shareholders back the move, and the maximum amount for 2024 would rise from CNY 234 million to CNY 515 million.

The Qinghai provincial government has revealed plans to deploy 59 GW of cumulative installed PV capacity by the end of 2025. According to data released by the local authorities, the province currently has 16.96 GW of installed PV capacity.

Beijing Energy International has raised CNY 1 billion from the sale and leaseback of solar power projects to CDB Financial Leasing. The lease will last a year and Beijing Energy will repay CNY 44.9 million on top of the principal.

Solargiga Energy Holdings reported revenue of CNY 3.15 billion in the first half of 2022, up from CNY 2.82 billion a year earlier, and a profit of CNY 67.7 million, up from CNY 61.3 million. It shipped 2.18 GW of solar ingots and wafers in the January-June period, in addition to 1.32 GW of PV modules. It plans to ramp up annual production capacity for ingots, wafers, and modules this year to 7.4 GW, 7.4 GW, and 8.2 GW, respectively, from their current levels of 6.2 GW, 4.5 GW, and 7.2 GW.

Shandong Hi-Speed New Energy posted a first-half profit for shareholders of HKD 363 million ($46.2 million), on the back of  HKD 2.94 billion of revenue from its solar plants, wind farms, and clean heat projects. Its 2.24 GW of solar generating capacity – plus 700 MW of rooftop arrays – produced 1.76 TWh of clean electricity in the first half.

Luoyang Glass posted a first-half profit for shareholders of CNY 23.1 million, down from CNY 186 million in January-June 2021. The company said last week that the first-half price for 2 mm glass was down 21.3%, year on year, and down 15.3% for 3.2 mm products. The manufacturer said that the boom in solar glass would continue to the end of the year, but in the current six-month window, “the prices of raw materials and fuels may fluctuate at a high level.”

Shunfeng International has revealed unexpectedly high first-half losses for shareholders of CNY 196 million. It said six-month revenue came in at CNY 171 million.