An ‘explosive’, ‘booming’ global solar market in the second half of a Covid-hit 2020 saw the previous glass manufacturing overcapacity reversed, as float and auto glass producers bent all their efforts on making material for PV modules.
Greater dispatchability will be required from solar as it becomes increasingly mainstream worldwide, or investors could experience diminishing returns as a victim of the technology’s success at bearing down on electricity prices.
Trading in the Hong Kong-listed company stock, which was supposed to resume this morning following publication of the overdue 2020 figures, remains suspended.
Lithium-ion battery products will be sold by the group’s storage and autoglass business to its solar glass operation–for use in solar project development–and its float glass manufacturing unit.
A record number of defaults last year has spooked some lenders, according to Solargiga, but the solar manufacturer has announced ambitious plans to ramp production capacity this year and next.
Saudi power company ACWA Power today revealed it has signed a 25-year power purchase agreement with the Egyptian Electricity Transmission Company and said development was on track for generation to start before October next year.
The poly making parent company says it needs extra time to finalize its 2020 figures so trading in the stock appears likely to remain suspended for the rest of the week. GCL is due to complete the paperwork related to a proposed debt restructure this month.
The latest set of clean energy statistics compiled by the International Renewable Energy Agency signal a changing of the guard when it comes to clean power, with legacy hydropower facilities overtaken by new intermittent renewables.
The company is in cross-default for $679 million, triggered by the non-payment of $500 million of senior notes at the end of January. The polysilicon maker hopes to straighten that matter out with a debt restructure ‘by June.’
The TBEA-owned poly manufacturer has predicted further consolidation as it aims to ramp up output with another 100,000 tons of annual production capacity.
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