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 $483 million fab will be built by an unnamed ‘multinational glass manufacturer’ at the Kota Kinabalu Industrial Park, in the Sabah region.
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 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.
Almost 5% of the Chinese solar glass manufacturer’s stock will be issued in a bid to generate $167 million towards the cost of two fabs planned in Guangxi next year. Xinyi also wants to expand its successful project development business.
The Indian government has imposed anti-dumping duty of $114.58/metric ton on tempered solar glass imports originating in or exported from Malaysia. The five-year duty will be applied to products from producers except Xinyi Solar.
The manufacturer endured a rollercoaster ride in 2018, as China’s 5/31 policy decision saw prices plunge before staging a partial recovery. But the Wuhu-based company saw an uplift in its development business and is forging ahead with production expansion amid bullish predictions for the future of PV.