Chinese PV Industry Brief: Huasun signs wafer, cell supply deals

Leascend Group, a Shenzhen-listed company, has signed two agreements with Huasun New Material and Huasun Solar. One of its subsidiaries has agreed to acquire 180 million 210/N monocrystalline silicon wafers from Huasun New Material. Leascend Group has also agreed to sell 1 GW of A-grade G12 heterojunction cell products to Huasun Solar. The total value of the two contracts exceeds CNY 200 million ($27.6 million). 

First, an encapsulation film manufacturer in China, has announced strategic adjustments to the planned 2024 expansion of production capacity across its facilities in Vietnam, as well as the Chinese cities of Hangzhou and Suzhou. The company said it plans to slow down its development of the project, which aims to produce 250 million square meters of encapsulation film per year in Hangzhou, to maintain optimal capacity utilization and ensure a balanced supply-demand relationship for downstream photovoltaic modules. The remaining capacity production is scheduled to be postponed until the end of 2025. Part of the plant construction was completed by December 2023, with an investment equivalent to about 10% of the total planned expenditure. 

China's Ministry of Industry and Information Technology (MIIT) has released January-February PV production data showing that companies manufactured about 330,000 tons of polysilicon, 130 GW of silicon wafers (with 9.3 GW exported) and 100 GW of solar cells (with 9.5 GW exported). The MIIT said that 76 GW of PV modules were also made in the first two months of the year.

GCL Technology said it has signed a contract to supply Longi Green Energy Technology with 425,000 tons of N-type granular silicon over the next three years to the end of 2026. The deal involves approximately 125,000 tons of granular silicon in 2024, approximately 150,000 tons in 2025, and 150,000 tons in 2026.