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Chinese PV Industry Brief: More ingot and module capacity, China’s largest rooftop project and a possible new listing

A new week has brought another slew of big production capacity announcements as online retailer JD.com prepares to install 200 MW of solar rooftop capacity and project developer SFSY reported on a promising new business stream.

Monocrystalline module manufacturer Longi announced last night it had signed an agreement with the government of Lijiang City, in Yunnan province, for the deployment of an additional 10 GW of silicon ingot manufacturing capacity, costing RMB2.5 billion (US$369 million). The Lijiang factory will reach a total production capacity of 21 GW with the expansion, with an initial, 5 GW established in 2016 and another 6 GW operational since 2018.

Fellow module maker Trina Solar yesterday said it had secured sign-off on a new 15 GW, RMB3 billion module fab with the local authorities in Changzhou City, Jiangsu province. Half of that price tag involves the purchase of production equipment.

JD.com, one of the nation’s biggest online retailers will install what it is describing as the world’s largest solar rooftop across its dozens of logistics buildings and warehouses. Total generation capacity is expected to be 200 MW with the panels coming online next year to generate more than 160 GWh per year. JD.com said the company will work with partners including wind turbine manufacturer Goldwind and Longi to develop the project.

JinkoSolar, the world’s largest PV panel maker, is considering listing its Jiangxi Jinko unit on the Shanghai Stock Exchange’s ‘STAR Market’ group of science and technology innovation companies. The subsidiary produces PV products including encompass connectors, terminal boxes, aluminum frames and structures. “To qualify Jiangxi Jinko for a STAR Market listing and to raise additional capital to support its continuous expansion, the board has also approved an equity financing of Jiangxi Jinko, under which certain China-based reputable third-party investors; JinkoSolar’s founders Xiande Li, Kangping Chen and Xianhua Li; and senior management personnel have agreed to invest an aggregate of RMB3.1 billion into Jiangxi Jinko for an aggregate of 26.7% equity interest in Jiangxi Jinko,” the manufacturer said in a statement. The transaction is expected to be finalized next month.

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Module manufacturer Risen Energy has secured a solar panel order from Brazil. Risen will supply an unnamed customer with its latest 500 W product, which features a 210mm wafer. The order constitutes the company’s first 210mm wafer module shipment to Brazil, with Risen claiming its high-power modules have a conversion efficiency of 20.8%.

Solar developer and manufacturer China Shuifa Singyes Energy Holdings (SFSY) has turned the RMB477 million loss posted in the first half of last year into a RMB193 million profit this time around. The company, bailed out by state-owned construction group Shuifa last year, started selling liquefied natural gas, gasoline and diesel in the second quarter, after Covid-19 affected its first-quarter PV project business. The fossil fuel sales generated RMB157 million in just three months – 7.9% of total first-half revenue and SFSY now plans to acquire a coal-fired power business from Shuifa.

Fellow project developer Xinyi Energy yesterday raised a net HK$893 million (US$115 million) by placing new shares equivalent to 5.03% of the stock, at HK$2.50 per share.

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Source: pv magazine