Furthermore, China’s National Energy Administration (NEA) said residential PV installations totaling 1.93 GW were deployed in October alone and Heterojunction (HJT) solar new entrant Golden Solar became strategic partner of Gold Stone Energy Co Ltd.
TBEA unveiled a plan to build a 400,000 MT metal silicon factory in Baotou City, in the Inner Mongolia province. Furthermore, EnergyTrend reported polysilicon prices increased slightly this week.
Elsewhere, cell maker Aikosolar has announced two major wafer purchase agreements with manufacturers Shuangliang and Shangji, and Zhonghuan Semiconductor has reported solid financials for the third quarter.
Reliance New Energy Solar, a subsidiary of Reliance Industries led by billionaire Mukesh Ambani, which is planning a huge manufacturing venture in Gujarat, India, has led a series C financing round in German wafer manufacturer NexWafe with an investment of EUR 25 million ($29 million). This marks the third major investment in renewables announced by the Indian multinational this week.
Shuangliang Eco-Energy has agreed to buy a total of 134,950 MT of polysilicon from two different manufacturers. Furthermore, the Chint group said it wants to deploy another 3 GW of rooftop solar and PV InfoLinks reported on rising glass prices.
Longi posted a net profit of $773 million in the first half of the year after shipping 17 GW of modules. Xinte reported a net result of $190 million and Solargiga saw its revenue increase significantly.
Moreover, the Chint group said its PV plant fleet in China has reached a combined capacity of 6.54 GW and project developer China Shuifa Singyes said high polysilicon prices and Covid restrictions had caused a revenue drop.
According to the China Nonferrous Metals Association, polysilicon prices declined by around 1.4% last week. In other news, Gaoce announced another 20 GW PV wafer factory and Hareon Solar filed for bankruptcy.
Preliminary results were published for Solargiga, Zhonghuan Semiconductor, GCL System Integration, JYT Corporation and Akcome Tech.
U.S. thin-film manufacturer First Solar and Bill Gates-owned Breakthrough Energy Ventures (BEV) are among the investors in the new company, which is called CubicPV and is expected to develop multi-junction perovskite solar cells with efficiencies of around 30%.
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