Wiki-Solar’s latest league table of utility-scale solar project developers shows that only six renewable specialists occupy the top 20 spots.
The 1.36 GW of solar capacity installed by Shanghai Electric across just three projects in 2021 and the first quarter of 2022 helped it enter an annual ranking of the global solar industry’s biggest engineering, procurement, and construction contractors.
With trading in its Hong Kong-listed stock still suspended, the project development arm of the polysilicon manufacturer has continued its drive to sell down its portfolio to state-owned institutions.
The near-$80 million handed over to a contractor in 2019, of which around $2.3 million was retained by the recipient, is now being investigated by an independent accountant. Meanwhile, GCL’s shares remain suspended because the payment issue is holding up its 2020 accounts.
Based on the price agreed for the first year of the five-year contract, the total deal would be worth almost $4 billion to the $1 billion company. However, with input costs rising and the state-owned sponsor likely to expect to pay lower fees for subsequent years, the TOPCon manufacturer’s margins may not remain so fat.
State-owned power company SPIC is all set to contribute to the figures after announcing it wants to add 15 GW of renewables capacity during 2021 and China Glass, fresh from rebuffing Xinyi Glass’ takeover offer, is on the hunt for more manufacturing facilities.
The Chaoyang facility is the largest of the first batch of central-subsidy-free solar projects approved in the world’s biggest solar marketplace. China Power has awarded three construction contracts to entities owned by its SPIC parent company.
A mix of higher operating costs and ageing coal assets – plus historically generous solar tariffs – meant the utility banked more profit from the 1.53 TWh of solar electricity it sold in the first half than it did from 25.9 TWh of coal-fired power.
The state-owned State Power Investment Corp Ltd has received a bid of 25 cents per watt for monocrystalline panels in a tender to procure 3.04 GW of PV module capacity.
Motivated by steeply declining cost curves, leading utilities are building solar portfolios around the globe. The latest statistics show the cumulative capacity of the biggest utility-scale solar plant owners topped 18 GW at the end of last year, with power companies in China, the U.S. and India to the fore.
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