In other news, Longi reported increased revenue and a slight drop in profits for the full fiscal year 2021, and heterojunction (HJT) photovoltaics manufacturer Golden Solar has leased a 250 MW production line.
Tongwei also announced it wants to expand its solar cell capacity to 70 GW by the end of 2022 and 102 GW by the end of 2023.
Indian group Borosil Renewables is acquiring Europe’s largest solar glass manufacturer. With major sites in Germany and Liechtenstein, Borosil plans to increase manufacturing capacity to 2,600 tonnes per day, making it possible to supply solar glass for more than 15 GW of PV modules from 2025.
Daqo announced its best quarterly financial results, with net profit reaching $535.8 million, while Sungrow saw its profit drop by 19%. Polysilicon manufacturer GCL-Poly changed its name to GCL Technology Holdings Limited and announced a plan to build another 100,000 MT polysilicon factory in Inner Mongolia in partnership with Zhonghuan Semiconductor.
Hoshine plans to expand PV glass production, while Tongwei is raising PV cell prices, with a particular focus on monocrystalline cells. Maxwell Technology has secured a 4.8 GW production line order from India’s Reliance Industries, while JA Solar has reported a net profit increase of 35% for 2021.
The cost of solar panel raw material polysilicon topped $40/kg this week, according to the China Nonferrous Metals Association, continuing a three-month upward trend.
In other news, Shuangliang is planning to set up 20 GW of solar module production and Longi has said higher electricity prices may have an impact on its financial results.
Zhonghuan Semiconductor has ramped up wafer prices, China Resource Power has secured 5GW of solar panels, and GCL-Poly is preparing to rebrand as GCL Technology Holdings. China’s Guangxi Zhuang region, meanwhile, has announced plans to deploy 16GW of PV.
In other news, JinkoSolar secured a 1GW supply agreement with CNNC Rich Energy Corporation Limited and Yunnan Province announced a plan to deploy another 50GW of PV over the next three years.
Talesun announced the project for the PV factory adding it will also develop 5GW of agrivoltaics in China’s Hebei Province. Longi has also announced it has raised the prices of its wafers again.
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