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Chinese PV Industry Brief: Eging to create 10 GW of TOPCon solar power production

Eging PV has signed a deal to create a 10 GW TOPCon solar module factory in Anhui province, while Tongwei has revealed plans to create a 25 GW cell factory in Jiangsu. Jolywood, meanwhile, has completed the initial 4 GW phase of its 8 GW TOPCon cell factory in Shanxi province.

Eging PV

Eging PV said this week that it has signed a cope with the authorities in Chuzhou, Anhui province, to create a 10 GW TOPCon solar module factory. The brand new plant includes 10 GW of wafer capacity and can require an investment of around CNY 5 billion ($705 million). Eging said that 67% of the investment will undoubtedly be for factory buildings and equipment, as the other 33% will support its working capital needs. It now has 5 GW of cell capacity and 10 GW of module capacity.

Tongwei has signed a cope with the authorities in Yancheng, Jiangsu province, to get around CNY 4 billion in a 25 GW solar cell factory. By end of June 2022, the business had a lot more than 230,000 metric tons (MT) of polysilicon capacity and 54 GW each year of annual solar cell production capacity. Tongwei plans to possess 800,000 MT of polysilicon capacity by the finish of 2024 and 102 GW of solar cell capacity by the finish of 2023.

Jolywood said the initial 4 GW phase of its TOPCon solar cell factory in Shanxi province has been completed. The manufacturing unit will eventually have a complete capacity of 8 GW. The panel producer currently has total 4 GW of TOPCon cell capacity and 3.5 GW of PV module capacity.

GCL New Energy said this week that its first-half losses for shareholders came in at CNY 514 million, as opposed to the CNY 300 million that has been expected. Electricity sales revenue slumped because of its continued sell-off of solar projects, in addition to a CNY 144 million foreign-exchange hit, despite revenue of CNY 558 million.

Beijing Energy International reported a net profit for shareholders of CNY 181 million in the initial half, down from CNY 371 million in January-June 2021. Revenue rose to CNY 1.99 billion, from CNY 1.31 billion per year earlier. It said its 4.58 GW portfolio, comprising 97 solar parks and seven wind farms, generated 3.32 TWh of clean power in the initial 1 / 2 of 2022, up from 1.74 TWh in exactly the same period this past year.

China Power International Development has raised CNY 1.47 billion by diluting its ownership of four solar project companies. The state-owned utility retained a 36% stake in each one of the businesses, that have passed to a clean power investment special purpose vehicle (SPV) controlled by CP Guorui. The SPV was partly capitalized with CNY 1 billion by China Power in April.

Irico New Energy has posted a first-half net profit for shareholders of CNY 61.1 million, down significantly from CNY 215 million in January-June 2021. The business said big volumes of solar glass production capacity have already been coming online since June, dampening prices. It posted six-month revenue of CNY 1.1 billion, down from CNY 1.18 billion in the initial 1 / 2 of 2021.

China Glass Holdings said this week that it’s continue with the construction of fabs to create solar power glass, as its new energy-saving glass division accounted for CNY 25.2 million of its total first-half gross profits of CNY 426 million. It said its main float glass business has been buffeted by problems in the true estate market and much more expensive recycleables. China Glass posted a first-half profit for shareholders of CNY 121 million, down from CNY 302 million through the same amount of 2021.

Shunfeng International has announced the partial collapse of an idea to market solar projects that has been first announced greater than a year ago. It said only three of seven planned projects announced in August 2021 will now be sold, raising around CNY 221 million from the transfer of 60 MW of generation capacity. State-owned China Power Investment Xinjiang Energy Chemical Engineering Group Akesu will abandon plans to get another four projects, that have a generating capacity of 130 MW and were likely to raise an additional CNY 317 million for Shunfeng.

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