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.
The NEA has revealed more than 1.3 GW of solar capacity was added to Chinese rooftops last month, with more than 500 MW of it in Shandong province. While poly maker Daqo was forced to revise down its latest sales forecast it predicted a quick rebound in the current quarter.
Negative second-quarter updates from China and uber-low new-solar figures from India, however, show the world is far from out of the woods yet.
JinkoSolar has begun construction of a new 16 GW module production base in Yiwu city, Zhejiang province and Eging PV has resumed a 200 MW solar project in Qitai county in the Xinjiang Uygur Autonomous Region, after securing approval from local authorities. The China National Energy Administration has confirmed the nation can add no more than 48.45 GW of solar to the grid this year.
Manufacturer Solargiga referenced our website, rather than official channels, to have a stab at anticipating the possible effects of the public health crisis on the industry as it insisted production lines powered by bargain-basement electricity prices this year would help turn around a $50 million loss for 2019.
A Solargiga subsidiary has handed over $2.5 million to almost double its stake in a 1.2 GW capacity module manufacturing business set up in June by investors which include the local government.
The Chinese manufacturer had to ship a lot more ingots, wafers, cells and modules to secure a modest rise in returns, according to its unaudited 2019 figures.