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Chinese PV Industry Brief: GCL Tech starts production at polysilicon fab in Leshan, Jolywood expands backsheet capacity

In other news, Shuangliang secured a large wafer deal from the Chint Group and Tongwei raised the prices of its solar cells.

Polysilicon maker GCL Tech last week announced the start of production at its 100,000-ton annual production capacity granular silicon fab in Leshan. The company also revealed a 30,000-ton facility in Jiangsu started production on June 16. The news was enough to prompt chairman and major shareholder Zhu Gongshan to invest another HKD 35.5 million ($4.52 million) into acquiring 10 million more shares in the business.

Panel manufacturer Jolywood said it will expand its annual backsheet capacity by 250,000,000 square meters. The company plans to invest CNY 882 million ($130.4 million) in the new production. The funds will come from own capital and bank loans. According to Jolywood’s latest financial results, the manufacturer shipped 58.000.000 square meters of backsheets in the first quarter of this year.

Wafer manufacturer Shuangliang Eco-Energy has agreed to sell 950,000,000 wafers to China-based power transmission and distribution equipment provider Chint Group. The purchase price will be negotiated on a monthly basis.

Tongwei has announced new solar cell prices, with increases for all of its monocrystalline PV products. The polysilicon supplier and solar cell maker priced its PERC 182 mm cells at CNY 1.30 ($0.19) per watt, up 3.17%, and its PERC 166 mm cells at CNY 1.28 per watt, up 3.23%. It also increased the price of its PERC 210 mm cells by 4.07% to CNY 1.28 per watt.

Manufacturer Solargiga this month released unaudited first-half figures showing revenue from its solar ingot, wafer and module sales and projects business was 12% higher than in the first six months of 2021, to reach CNY 3.1 billion ($459 million). Unspecified “other” revenue fell 18% year-on-year, to CNY 41.2 million. The company last week said details of a proposed CNY 460 million shares issue by subsidiary Qujing Yangguang would now not be ready until August 5.

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Clean power developer Beijing Energy International last week stated it generated 2.14 GWh during April to June, from a portfolio of 82 solar plants and seven wind farms. Generation for the first half of the year was 3.32 GWh with Beijing Energy achieving grid connection for 329 MW of solar capacity during the second quarter.

New-entrant solar manufacturer IDG Energy Investment has completed its name change to Productive Technologies Co Ltd.

Real estate and logistics magnate Cheung Shun Lee appears to have finally given up his near-seven-year attempt to rehabilitate Hong Kong-based solar cell and module maker China Solar. The company this week stated it does not intend to seek a review of a decision by the Hong Kong Stock Exchange to cancel its shares on August 8. “The restructure cannot proceed” China Solar said of a proposed rescue package launched by Lee in August 2019. As reported by pv magazine at that point, Lee had invested HKD 38 million ($4.84 million) in attempting to restart the company. Problems began for the company in October 2013 when executives were detained for “making a false representation” about a business unit which never started trading. Subsequent developments included a mass resignation of directors in June 2015 and suspension of trading in the stock;  the appointment of liquidators three months later; and the revelation, in August 2018, that China Solar’s only functioning business unit was processing dried fruit and leaves into powders. The latest stock market announcement indicated provisional liquidators have been appointed.

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Source: pv magazine