China PV News Snippets: Runergy, IRICO, Unisun, Zhongli

6 GW PERC Solar Cell Capacity Of Runergy Online; IRICO To Expand PV Glass Production; Unisun Energy & Kangfu Launch Distributed Generation JV; Zhongli Expects Net Loss In 9M/2020
11:31 PM (Beijing Time) - 16. October 2020

Key Takeaways

  • Runergy has expanded its solar cell production capacity by 6 GW in Jianhu County
  • IRICO will expand its PV glass production capacity by 36 million with 5 production lines
  • Unisun Energy of Engie is targeting C&I segment in China for distributed solar PV projects under a JV with Kangfu
  • COVID-19 pandemic is the main reason for Zhongli Group expecting net loss during 9M/2020

6 GW Runergy PERC solar cell factory online: Suzhou Run Sunshine Technology Co., Ltd. or Runergy has officially started production at its 6 GW high efficiency PERC solar cell project in Jianhu Economic Development Zone, Jianhu County. It comprises 15 cell production lines, reported Yancheng Evening News. The company claims 23% efficiency for its PERC solar cells produced here and ‘lowest processing cost per W in the industry’. It is already planning and designing phase 2 at Jianhu for 13 GW solar cell capacity by the end of 2020 to meet future market demand.

PV glass maker IRICO expanding production: Solar PV glass producer IRICO Group New Energy will be setting up 5 deep-processing production lines for ultra-thin, double-film, high-transmissivity and large size photovoltaic glass targeting an annual production capacity of 36 million sq. mtr. in Qindu district, Xianyang city under an agreement with the local administration. The PV glass to be produced here is expected to result in annual sales of around RMB 670 million. In a stock exchange filing, the company said it will invest close to RMB 500 million to establish this capacity through a special purpose vehicle.

IRICO said the main objective behind the expansion is to meet market demand for glass to be used for bifacial, double-glass and large PV modules. It will also strengthen its presence in the northwestern PV market in China.

Unisun Energy Group JV with Kangfu: The Unisun Energy Group and China Kangfu International Leasing Co., Ltd. have announced a joint venture – Zero Carbon New City Platform in Changning district of Shanghai. The new company will provide financing support, construct and operate small scale distributed solar PV plants targeting China’s small, micro commercial and industrial power plants.

Net loss for Zhongli Group in 9M/2020: Solar module company Zhongli Group expects to report a net loss of between RMB 316.23 million and RMB 342.79 million during 9M/2020, compared to a net profit of RMB 20.62 million last year. In the 3rd quarter of 2020, its net loss is expected to fall within the range of RMB 55.92 million to RMB 82.49 million, compared to a profit of RMB 7.61 million in Q3/2019, as per its stock exchange filing. It attributes this expected financial loss to the impact of COVID-19, especially in the PV segment. Zhongli Group operates its PV manufacturing business under the Talesun Solar Technologies brand. The management does not see the pandemic related stress situation improving any time soon for its overseas markets where several PV power projects have also been delayed. It will focus on the domestic market instead where the pandemic is stated to be gradually coming under control.

Meena Nair

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Meena Nair