Chinese PV Industry Brief: JA Solar to build 5 GW of cell capacity in Vietnam

GCL Technology Holdings Limited reported strong revenue for the first half of 2023, while JA Solar says it will invest CNY 2.72 billion ($374.8 million) in 5 GW of N-type solar cell capacity in Vietnam.

Image: Reegan Moen, Wikimedia Commons

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GCL Technology Holdings Limited recorded CNY 20.945 billion of revenue in the first half of 2023, from CNY 14.775 billion in the same period last year, according to its unaudited results. It attributed the increase in sales to its solar materials division, as well as its growing granular silicon business. Its net profit attributable to shareholders stood at CNY 5.518 billion in the January-June period, down from CNY 7.062 billion in the first six months of 2022. The group said its production costs for granular silicon at its Leshan GCL site were approximately CNY 35.68/kg, which it claims is lower than the industry average.

Aiko Solar recorded CNY 16.249 billion of revenue in the first half of 2023, up 1.65% year on year. Its net profit attributable to shareholders reached CNY 1.309 billion, up 119.6% from the first half of 2022. The company said that panels featuring “ABC cells,” its N-type IBC technology, had an average selling price of CNY 2.2/W in the first half of this year.

China Energy Investment Group (CHN Energy) has awarded its second 2023 PV panel product tender through its Qinghai unit. Das Solar, Trina Solar, JA Solar, and JinkoSolar collectively secured a 1.643 GW order, divided into four bids, with panel prices ranging from CNY1.192/W to CNY1.23/W. Trina Solar won the lowest-priced bid, while the other three companies secured one winning bid each. Longi was the second choice in all four bids. CHN Energy said it expects all panels to be delivered by the end of August 2024.

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JA Solar says its has decided to invest around CNY 2.72 billion in 5 GW of N-type solar cell capacity in Vietnam. It said the project will be constructed within 10 months.

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