Kong Sun

Kong Sun has agreed to acquire 59 MW of operational solar capacity in China for roughly $80.9 million.

Kong Sun Holdings has revealed that its solar projects throughout China generated roughly 1162.2 GWh in the nine months to the end of September 2017, up 82.57% year on year, as it expanded its operational PV portfolio by more than 500 MW.

Kong Sun has recorded a profit of CNY 63.7 million ($9.75 million) in the first half of 2017, from a loss of CNY 124.4 million a year earlier, as  it connected roughly 210 MW of new solar capacity to the Chinese grid.

The Chinese PV investor said it may record a net profit of up to CNY 40 million ($5.9 million) for the first half of 2017. The preliminary figures point to a sharp turnaround from last year, as it posted a net loss of CNY 124.4 million in the first six months of 2016.

The Chinese PV investor connected a new solar array to the grid this week in Huanghua, Hebei province.

Kong Sun Yongtai Investment, the Chinese group’s investment holding unit, has acquired three projects in northwestern China.

The Chinese solar investment group said that in aggregate, its PV plants generated roughly 374.7 GWh of electricity in the first four months of 2017, up approximately 87.5% year on year.

The Chinese PV investment group recorded a profit of 54.8 million yuan ($7.96 million), from a loss of 98.9 million yuan in 2015, as it more than double the size of its operational solar portfolio.

The solar investment group will likely swing back to the black from a net loss of roughly 98.9 million yuan ($14.4 million) in the 12 months to December 31, 2015.

The solar investment group’s cumulative installed capacity in the country hit 1.15GW at the end of December, up from 950.3 MW in late June 2016, according to a statement to the Hong Kong stock exchange.