China PV News Snippets: SOFAR, Jolywood, IRICO, Qingdao

SOFAR-Involved Cambodia PV Station Grid-Connected; Jolywood & SPIC Sign JV For Distributed PV Market; IRICO Net Profit To Increase By 127% To 145%; Qingdao To Invest RMB 167 Million In PV Silicon Wafer R&D Centers; Only #3Days Left For TaiyangNews Bifacial Conference
11:08 PM (Beijing Time) - 02. March 2021
Jolywood & SPIC sign JV

Jolywood and SPIC Energy Technology set up a joint venture firm to develop and construct distributed photovoltaic power stations. The photo shows the ceremony in which both the parties signed the joint venture agreement. (Photo Credit: Jolywood)

Key Takeaways

  • Cambodia's Ministry of Transport connects to power grid a 708kW photovoltaic power station, to which SOFARSOLAR had supplied PV grid-connected inverter
  • Jolywood and SPIC Energy Technology & Engineering Co., Ltd. have partnered to form a joint venture company to develop distributed photovoltaic power stations
  • IRICO Group to realise net profit attributable to shareholders of RMB 212 million ($32.80 million) to RMB 228 million ($35.27 million) for the year ended 31 December 2020
  • Qingdao Gaoce Technology to invest RMB 167 million in photovoltaic large silicon wafer R&D center
  • Just 3 days left for TaiyangNews Virtual Conference on Bifacial Solar, where experts from research, testing, and manufacturing will discuss status and outlook for bifacial solar

SOFAR inverter for large PV power station in Cambodia: Taking further the country’s commitment to develop new energy, the Cambodia’s Ministry of Transport recently connected a 708 kW PV power station to the power grid. With this, the proportion of solar power generation will rise from 1% of 2018 to 20% in the next few years, news portal Solarbe reported. China’s solar and hybird inverter manufacturer SOFARSOLAR has been supplying PV grid-connected inverter, especially SOFAR 60000TL, to the power station. This inverter integrates high efficiency, stability, safety and intelligence. Cambodia has abundant solar energy resources with a usable solar power generation potential of over 8,000 MW. However, 25% of the country’s electricity is imported, according to the statistics of the Cambodian Electric Power Company. In that light, this power station is seen as a milestone that will showcase the huge potential of the Cambodian PV market.

Jolywood & SPIC sign JV to enter distributed PV market: Bifacial solar cell and module manufacturer Jolywood and SPIC Energy Technology & Engineering Co., Ltd. have partnered to form a joint venture company. The main focus of this JV will be to focus on the development and construction of distributed PV power stations. A pioneer in commercializing high-efficiency TOPCon cell technology and a global leader in backsheets for solar modules, Jolywood presented about its TOPCon technology at the recent TaiyangNews High Efficiency Solar Conference.

IRICO expected annual net profit to increase by 127% to 145%: In 2020, IRICO’s new material and component business had seen decline in gross margins. This had triggered IRICO Group New Energy Company to pay all attention to the development of photovoltaic glass. The company focused on improving the capital structure by further strengthening centralized and unified procurement, and thus effectively controlling its operating costs. Meanwhile, the photovoltaic glass market was enjoying strong demand and its average price and gross profit ratio was on the rise. With all this, IRICO Group now expects to realise a net profit attributable to shareholders of RMB 212 million ($32.80 million) to RMB 228 million ($35.27 million) for the year ended 31 December 2020. This is a substantial increase of approximately 127% to 145% as compared to last year.

Qingdao Gaoce to invest RMB 167 million in PV silicon wafer R&D centers: Releasing an announcement, wire cutting machine producer Qingdao Gaoce Technology shared some changes in investment projects for which funds were raised. There were two unused funds in particular – RMB 110 million ($17.02 million) towards the industrialization of the original high-precision CNC equipment, and RMB 57 million ($8.82 million) for the industrialization of the original diamond wire. Both these funds will now be used in the large silicon solar wafer R&D center and the intelligent manufacturing demonstration base. The total planned investment of the new project is RMB 183.23 million ($28.35 million), towards which the company will spare RMB 167 million ($25.84 million) from the raised funds, while the remaining will be raised by the company once again later.

Only #2Days left for TaiyangNews Virtual Conference on Bifacial Solar: It’s just 2 more days for the Virtual Conference on Bifacial Solar. TaiyangNews has invited experts from research, testing, and manufacturing along the value chain to discuss status and outlook for bifacial solar. The speakers will be from LONGi Solar, Solis, ISC Konstanz, TÜV Rheinland Group, Hangzhou First, Aikosolar, RES Group. It would be a pleasure if you join us. The Conference will be held on 4 March 2021, from 13:00 to 17:00 CET. For agenda and Free Registration, click here

Meena Nair

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Meena Nair