China PV News Snippets: CECEP, Luoyang, Jinko, JA

CECEP 2020 Profit Around RMB 1.05 Bn; Luoyang To Raise RMB 2Bn For PV Cell Packaging Materials; Flat Glass & Jinkosolar Sign PV Rolled Glass Order; JA Solar To Invest RMB 5.8 Bn To Build 20 GW Project
12:15 AM (Beijing Time) - 12. January 2021
JA Solar to invest RMB 5.8 bn

JA Solar will build a 20 GW crystal pulling and wafering production project at its Batou manufacturing site. (Photo Credit: JA Solar)

Key Takeaways

  • CECEP Solar Energy Technology estimates its 2020 profit to be anywhere between RMB 930 million ($143.57 million) to RMB 1.05 billion ($0.16 billion)
  • Luoyang Glass to raise RMB 2 billion ($0.31 billion) to invest in photovoltaic cell packaging material projects
  • JinkoSolar to purchase 59 GW of photovoltaic rolled glass modules from Flat Glass Group within three years from 2021 to 2023
  • JA Solar to invest RMB 5.8 billion ($0.90 billion) to build a 20 GW crystal pulling and slicing production project at its JA Baotou Base (Phase III)

CECEP 2020 profit to be about RMB 1.05 bn: Releasing its annual performance forecast for 2020, PV module manufacturer CECEP Solar Energy Technology Co., Ltd said that the estimated profit will be anywhere between RMB 930 million ($143.57 million) to RMB 1.05 billion ($0.16 billion), an increase of 2.1% to 15.28% over the same period last year. The company owed this improvement in performance to its installed capacity in 2020, which resulted in an increase in overall power generation compared to the previous year. Last year, CECEP had set up a 20 GW solar cell capacity with PERC technology (see China PV News Snippets: Trina Solar, CECEP, Huadian).

Luoyang Glass to raise RMB 2 bn for PV cell packaging materials: In an announcement, float glass manufacturer Luoyang Glass stated that it will raise RMB 2 billion ($0.31 billion) to invest in photovoltaic cell packaging material projects. It also emphasised on using this fund to repay interest-bearing liabilities and supplement working capital. The issuance targets about 35 investors, including the company’s indirect controlling shareholder Triumph Group.

Flat Glass and JinkoSolar sign PV rolled glass order: Glass products manufacturer, researcher and developer, Flat Glass Group, announced the signing of a major contract for photovoltaic rolled glass with JinkoSolar. According to the agreement, JinkoSolar will purchase 59 GW (approximately 338 million m2) of photovoltaic rolled glass modules from Flat Glass Group within 3 years from 2021 to 2023. The estimated contract value is approximately RMB 14.2 billion ($2.19 billion). Recently, Flat Glass Group had announced an increase in its 2020 net profit (see China News Snippets: DR Laser, Caihong, Trina, Chint)

JA Solar to invest RMB 5.8 bn to build 20 GW project: Solar PV panel manufacturer JA Solar and the government of Baotou City and Qingshan District signed a framework agreement. As per the agreement, JA Solar will invest RMB 5.8 billion ($0.90 billion) to build a 20 GW crystal pulling and wafering project at JA Baotou Base (Phase III). JA Solar had exited 2020 and entered 2021 with some long-term raw material supply deals for monocrystalline silicon wafers, polysilicon and solar PV glass, to keep with its capacity expansion announcements over the past year (see Long Term Raw Material Supply Deals For JA Solar). 

Meena Nair

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Meena Nair