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Chinese PV Industry Brief: Almaden secures glass order from Trina Solar

Almaden and Trina Solar have signed a long-term solar glass supply deal, while Growatt has revealed plans to list shares in Hong Kong. PV glassmaker Xinyi, meanwhile, has issued a gloomy profit outlook for the first half of 2022.

Almaden has secured a long-term supply contact from module manufacturer Trina Solar. Under the terms of the agreement, Almaden has agreed to provide Trina with 337,500,000 sm of solar glass with a thickness of 1.6 mm from June 2022 to December 2025. The supply contract has an estimated value of CNY 4.7 billion ($1.1 billion).

Growatt has submitted a listing application to the Hong Kong Stock Exchange, with the support of Credit Suisse and China International Capital Corp. The prospectus states that in 2019, 2020 and 2021, the manufacturer shipped 270,100, 484,900, and 694,900 inverters, respectively, as well as 15,400, 44,400, and 96,500 battery inverters, respectively. Its respective shipments of battery packs for those years reached 4,800, 8,400, and 52,900, it claimed.

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Xinyi Solar has warned shareholders that it expects a 33% to 43% fall in net profits for the first half of this year, down from the HKD 3.07 billion ($391 million) it posted in the same period of 2021. It attributed this setback to lower average selling prices and rising raw material and energy costs, including the price of natural gas and soda ash. Xinyi Solar’s effective controlling shareholder, float glass manufacturer Xinyi Glass, said it expects its first-half net profit to fall 35% to 50% to the HKD 2.69 billion to HKD 3.5 billion range.

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Source: pv magazine