The technology company and inverter maker has created a new unit to operate in the renewables and e-mobility sectors. Elsewhere, China’s largest e-commerce company, JD.Com, has signed an agreement with the world’s biggest wind company, GoldWind, to establish a renewables joint venture.
GCL-Poly will provide JA Solar with 148,000 metric tons of polysilicon over the next five years. Tongwei produced its first 210mm PERC cell at its Jintang factory.
Longi has raised its wafer prices for June and the China Nonferrous Metals Association has reported this week that polysilicon reached a price of RMB200-210 per kg, and that the highest price exceeded RMB230 per kg.
Solar manufacturers Longi and Zhonghuan Semiconductor have reported output at their factories in the two provinces has been reduced by earthquakes that happened on Friday night and before dawn on Saturday. Elsewhere, module maker Jolywood has announced the signing of an agreement with the city government of Taiyuan, in Shanxi province, to build a TOPCon solar cell fab with a 16 GW production capacity.
Shareholders will vote on whether to approve the sale of ten solar farms to generate $320 million towards paying down its heavy debt pile.
The Chinese polysilicon manufacturer said it only discovered this month that the stock in its solar project division – which it had pledged to secure a $60 million loan which GCL says was never delivered – had been claimed by the lender a year ago, on the grounds the finance agreement had been breached.
China’s National Energy Administration (NEA) has allocated some $77 million for residential PV incentives. This should be enough to deploy another 1 GW of rooftop PV.
Recent financial statements from the big module manufacturers indicate that higher prices for polysilicon and PV glass since the third quarter of 2020 have dealt a severe blow to profits in the module business. Module manufacturers have gradually scaled down capacity utilization since the Lunar New Year, as demand has been weaker than expected, given the absence of China’s usual June 30 installation rush, as in past years. In April, Tier-1 module makers further cut utilization rates to 55-70%. PV InfoLink’s Corrine Lin examines the price trends that are developing in 2021.
Deloitte has walked away from the polysilicon manufacturer, despite the latter having followed the accountant’s recommendation to appoint a third party to investigate why a near-$80 million payment was made in September 2019. Apparently the parties could not agree the detail of the investigation to be carried out.
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