ingots

Longi and Tongwei have both seen changes in ownership in recent days. Meanwhile, Maxwell Technology has unveiled a plan to build a heterojunction cell factory Jiangsu Province and the Henan Group has entered PV glass and module production.

Solargiga Energy Holdings has posted a net loss of CNY 222.4 million ($33.08 million) for 2018, a sharp reversal from the CNY 107.5 million net profit it recorded in the preceding 12-month period.

On Friday, three Chinese government ministries issued a joint “2018 Solar PV Power Generation Notice.” Its impact has been hotly debated since, with two key conclusions: the largest market segment – utility-scale PV – will take a pounding and not come close to last year’s record installation figure of just under 34 GW; and the expanding distributed generation market segment, which rose 360% from 2016 to 2017, will also be severely impacted by a 10 GW cap on new projects.

The Asian companies will form a joint venture in India to execute the plan. The project’s total investment is expected to be around US$930 million, which will be used for the production of solar PV ingots, wafers, cells, modules and batteries.

Solargiga Energy has recorded a net profit of CNY 107.5 million (US$16.96 million) for the year to the end of December 2017, from a net loss of CNY 239.149 million in the preceding 12-month period.

A unit of Solargiga Energy Holdings has revealed plans to invest CNY 160 million ($25.2 million) in 1 GW per year of PV module production capacity.

Solargiga is ramping up its production capacity for monocrystalline silicon ingot and monocrystalline silicon wafers at a new factory in Quijing, China. Expansion undertaken alongside subsidiary Jinzhou Yangguang Energy.

LONGi Solar Technology has recorded a net profit of CNY 1.236 billion ($191.2 million) for the first half of 2017, up 43.6% year on year.

Solargiga Energy’s shipments of PV cells, solar panels, silicon ingots and wafers reached 1.16 GW in the first half of 2017, up nearly 55% year on year. Revenue from its production business rose 16.2% on the year to CNY 1.97 billion ($291.6 million), according to unaudited preliminary operating statistics filed to the Hong Kong stock exchange.

The Chinese PV manufacturer expects to record a “substantial loss” for the year to the end of December.