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Chinese PV Industry Brief: Xinte wants to increase polysilicon capacity to 100,000 metric tons

Xinte unveiled a $197 million plan to raise its polysilicon production capacity to 100,000 metric tons per year in Xinjiang. Longi signed a strategic cooperation agreement with oil and gas giant Sinopec to jointly develop hydrogen and renewable energies.

Polysilicon manufacturer Xinte Energy has announced a 12-month, RMB1.265 billion ($197 million) plan to raise its polysilicon production capacity to 100,000 metric tons per year in Xinjiang. The TBEA-owned poly manufacturer has currently an annual capacity of 30,000 metric tons and its subsidiary Xinte Polysilicon has an output of 36,000 metric tons.

Solar module manufacturer Longi has signed a strategic cooperation agreement with oil and gas giant China Petroleum & Chemical Corporation Group (Sinopec) for the joint development of hydrogen, solar and renewable energies. The deal was signed by Longi board chairman, Li Zhenguo,  and Sinopec president, Zhang Yuzhuo.

Shareholders in glassmaker Flat Glass will vote, on May 20, on a proposal to invest RMB5.8 billion (US$889 million) in six PV glass production lines with a daily melting capacity of 2,400 tons. Under the proposal tabled by the board, RMB3.8 billion would be spent on four lines at Fengning Modern Industrial Park, in Fengyang county, Chuzhou, in Anhui province, and RMB2 billion would be invested in two lines at Xiuzhou district, in Jiaxing, Zhejiang.

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Cell and module manufacturer Solargiga yesterday published unaudited first-quarter figures which showed shipments of ingots, wafers and modules rose 49% on the same period of last year, from 1 GW to 1.49 GW, raising revenue from production operations 27%, from RMB818 million to RMB1.04 billion. Revenue from the company’s solar project business more than quadrupled by the same comparison, from RMB2.8 million to RMB11.7 million.

Fuyao Glass reported an unaudited rise in first-quarter net profits, from the RMB380 million back in January-to-March last year to RMB813 million this time around, even after foreign exchange losses of RMB70.3 million in the opening three months of this year.

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Source: pv magazine