Longi has released its earnings for the first three quarters of 2022, while Tongwei has kept prices steady for all types of PERC cells in November.
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.
But Israeli inverter company Solaredge and Indian engineering, procurement and construction services provider Sterling and Wilson have both offered hope of a recovery in Europe as Chinese glass producer Xinyi said it kept the furnaces going throughout the worst of the pandemic.
Xinyi Solar has revealed another impressive set of figures and plans another 1,000-ton-per-day production line this month plus a new mine to source raw materials in September.
Risen Solar has unveiled plans for a 15 GW cell and module fab in Yiwu City, Zhejiang province and China South Glass is fundraising for a PV glass factory in Anhui province. Such growth, however, may be slowed by the introduction of new standards by the government.
Xinyi Solar today said it is anticipating a bumper profit from the first half of the year – an announcement likely to bring wry smiles at the board of parent company Xinyi Glass, which soon after announced quite the opposite prospects after selling off shares in the PV subsidiary last year.
The polysilicon giant’s Jiangsu Zhongneng unit invested $196 million into a $487 million fund alongside public partners to promote clean energy manufacturing in the Chinese city. A stake sale in the Xinjiang GCL subsidiary, if approved by shareholders, will more than recoup the group’s outlay.
The glass maker is set to issue fewer shares – at a higher value – in its solar glass subsidiary as it aims to generate funds for two new PV glass production lines in China.
The solar plant operations business – spun out of the solar glass manufacturer – reportedly finalized its initial public offering this week. Final confirmation of the proceeds is expected on Monday.
The Wuhu-based solar glass maker and PV project developer expects to raise around $167 million to expand operations after diluting stock by issuing shares equivalent to just under 5% of the business.
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