Chinese PV Industry Brief: Q-Sun Solar expands module capacity by 12 GW


Q-Sun Solar, an Anhui-based Chinese solar company, has signed an investment agreement with the municipal government of Xiantao City, Hubei province, to deploy an additional 10 GW of solar cell capacity and 12 GW of panel capacity. The company will invest approximately CNY 6 billion in the expansion plan.

The National Development and Reform Commission (NDRC) has announced that China has reached a milestone in its energy installation capacity, with non-fossil energy accounting for 50.9% of the total, surpassing installed fossil energy generation capacity for the first time. By the end of April 2023, China had completed 380 GW of wind power and 440 GW of solar PV, according to the China National Energy Administration (NEA). Wind and solar power are the fastest-growing non-fossil energy sources in the country and now make up 30.9% of the total electricity installation.

Solargiga, a module maker, has revealed that its subsidiary, Jiangsu Yueyang, has finalized a module production equipment sale and lease-back agreement with Haitong Unitrust International Financial Leasing. The agreement is valued at CNY 12 million, with a lease term of twenty-four months and an interest payment of CNY 625,383 (inclusive of value-added tax). Additionally, Solargiga recently entered into a similar lease-back agreement with Powchan Financial Group for module production equipment, amounting to CNY 52.5 million for eighteen months, with interest fees of CNY 2.05 million (inclusive of value-added tax).

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Diamond-wire cutting equipment supplier Gaoce Technology announced it signed a strategic agreement with Anhui Yingfa RuiNeng Technology Co. Under the terms of the deal, Yingfa RuiNeng in Yibin will slice 20 GW of wafers per year on behalf of Gaoce.

Gaoce Technology, a supplier of diamond-wire cutting equipment, has announced a strategic agreement with Anhui Yingfa RuiNeng Technology Co. As per the agreement, Yingfa RuiNeng in Yibin will undertake the slicing of 20 GW of wafers annually on behalf of Gaoce.

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