PV metallization pastes supplier DK Electronic Materials (DKEM) said on April 21 that it plans to raise up to CNY 3.0 billion (USD 413 million) through a private share placement. The company stated that the proceeds will be used for a 2,000 t/year low-silver, base-metal PV paste project, a 1,450 t/year electronic-grade metal powder expansion and upgrade project, and R&D for next-generation high-efficiency cell metallization pastes, among other initiatives. Of the total funds raised, CNY 900 million (USD 124 million) will be allocated to bank debt repayment and working capital. In October, the company told investors that cooperation with major downstream customers had progressed, and its high-copper paste products had entered volume production. The company said it had made advances in seed layer formulation and paste design, demonstrating compatibility and scalability with TOPCon 3.0 high-efficiency cell processes. Later in January, a spokesperson from DKEM told pv magazine that, unlike high-copper paste, pure copper paste solutions are not yet technically mature. “They will require additional time to mitigate copper oxidation, to clarify and empirically validate copper diffusion risk-management mechanisms, and to establish a supporting industrial ecosystem spanning materials and equipment.,” the spokesperson said. “While the short-term driver for GW-scale TOPCon customers to accelerate the mass production of high-copper paste is the pressure from surging silver prices, the medium- to long-term driver lies in sustainability concerns surrounding the supply of photovoltaic-grade silver.”
Aiko Solar recently announced plans to invest CNY 1.665 billion ($229 million) to upgrade production lines at its Yiwu and Chuzhou manufacturing bases. The company will convert existing 5 GW PERC capacity in Yiwu and 6 GW TOPCon capacity in Chuzhou into ABC cell capacity, with investments of CNY 721 million and CNY 944 million, respectively. The Yiwu project is scheduled to start in Q2 and begin production in Q3, while the Chuzhou upgrade is expected to start in Q3 and ramp up in Q4.
China’s National Energy Administration (NEA) said on April 23 that the country’s total installed power generation capacity reached 3.96 TW at the end of March, up 15.5% year on year. Solar accounted for 1.24 TW, up 31.3%, while wind reached 660 GW, up 22.4%. Based on the end-March figures and previously released January–February data, market trackers estimate that China added about 8.91 GW of solar in March, down around 56% year on year.
On April 21, the Shenzhen Stock Exchange said it will review the IPO application of China Resources New Energy Holdings on April 28. The company plans to raise about CNY 24.5 billion (USD 3.37 billion), with proceeds earmarked for renewable power generation projects, including large-scale wind and solar bases, integrated multi-energy projects, green ecosystem initiatives, and hybrid development schemes.
According to the Silicon Industry Branch of the China Nonferrous Metals Industry Association (CNMIA), polysilicon prices were unchanged this week after nine consecutive weeks of decline. N-type recharging polysilicon traded at CNY 35,000–36,000/ton ($4,814–4,952/ton), with an average of CNY 35,300/ton, flat week on week. N-type granular silicon traded at CNY 34,000–36,000/ton, averaging CNY 34,300/ton, also unchanged. Wafer prices were likewise stable, with N-type G10L at CNY 0.93/piece, G12R at CNY 1.00/piece, and G12 at CNY 1.17/piece. The association said recent policy signals have improved sentiment and supported futures prices, although inventories remain elevated.
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