The board of Xinyi Solar has announced it expects to have to install energy storage at its Chinese solar projects from July onwards, as a result of the recently launched five-year plan.
An ‘explosive’, ‘booming’ global solar market in the second half of a Covid-hit 2020 saw the previous glass manufacturing overcapacity reversed, as float and auto glass producers bent all their efforts on making material for PV modules.
Lithium-ion battery products will be sold by the group’s storage and autoglass business to its solar glass operation–for use in solar project development–and its float glass manufacturing unit.
Xinyi has accelerated plans to add more furnaces this year and predicts the rebound in solar demand being driven, in part, by the desire of nations for a green recovery from Covid-19 will continue to keep supply tight.
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.
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