Chinese PV Industry Brief: Canadian Solar, Aiko Solar to build new factories

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Canadian Solar has unveiled plans to invest in a vertically integrated solar factory in Huai'an, Anhui province. The project will include an annual output capacity of 14 GW for wafer cutting, 14 GW for n-type solar cell production, and 14 GW for modules. The total investment for this project is estimated to be CNY 9.63 billion. The module manufacturer said it wants to build the facility in three phases, with the first phase beginning in March.

Aiko Solar said it will start building a 10 GW factory in Jinan, Shandong province, to produce back-contact solar cells and modules. The total investment is expected to reach CNY 9.978 billion. The company plans to build two more phases for a total of 30 GW.

Flat Glass Group said it is launching a share repurchase program valued between CNY 300 million and CNY 600 million. It said it will use the repurchased shares for incentives and employee stock ownership schemes. It said the price per share will not be greater than CNY 30 per share. The plan will be valid for six months.

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China Huaneng Group said that it has resumed work on a set of 222 renewable energy initiatives, with a combined installed capacity of close to 35 GW. Projections suggest that throughout 2024, China Huaneng will allocate approximately CNY 150 billion to investments in renewable energy.

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