Sineng Electric has announced plans to raise CNY 2.55 billion ($360 million) to shore up its working capital and support the construction of a 25 GW inverter factory in Wuxi, Jiangsu province. The planned facility, which will make 15 GW of rooftop inverters and 10 GW of string inverters for large-scale projects, will be finished within three years. In addition, Sineng Electric will allocate some of the funds to expand its storage and inverter capacity at its existing factory in Wuxi.
Huasun has commissioned 3 GW of bifacial heterojunction cell production lines at its factory in Xuancheng, Anhui province. The facility will produce 210 mm cells with an efficiency of 25.58%.
TCL Zhonghuan raised its wafer prices by 3.5% to 5.2% this week. The new prices for various sizes of p-type and n-type silicon wafers are as follows: 150 um 218.2 mm size p-type at CNY 5.78 each, 150 um 210 mm size p-type at CNY 4.26 (+4.7%), 150 um 182 mm size p-type at CNY 2.95 (+3.5%), 130 um 210 mm size n-type at CNY 4.03 (+0.9%), 130 um 182 mm size n-type at CNY 3.05 (+5.2%), 110 um 210 mm size n-type at CNY 3.87 (+4.9%), and 110 um 182 mm size n-type at CNY2.93 (+5.0%).
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Golden Solar Xuzhou has signed a leasing agreement with Xuzhou Jinsheng for premises valued at CNY 67 million. The facility will serve as a production base for the company's 20 GW large-sized heterojunction silicon wafer project, which was first announced in October 2021.
Xinyi Solar has reported its financial results for the first half of 2023, with revenues hitting HKD 12.1 billion (1.6 billion), up 25.2% year on year. However, net profit fell by 26.9% to HKD 1.4 billion. Its solar glass business contributed HKD 10.6 billion in revenues, while its solar farm business contributed HKD 1.5 billion. The company said it is addressing competition through strategic moves, product differentiation, and enhanced quality. It's also investing in expanding solar glass manufacturing capacity.
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