China PV News Snippets: Sungrow, Shuifa, EnergyTrend

Sungrow To Supply 1500V 6.25 MW Solar PV Inverter Solution For 350 MW Vietnam & 900 MW Dubai Projects; 50 MW Solar & Storage Project For Tibet; H1/2020 Financials Of Top 9 PV Companies Shows Business Grew Despite Pandemic
12:28 PM (Beijing Time) - 12. September 2020
China PV News Snippets: Sungrow, Shuifa, EnergyTrend

Sungrow is strengthening its international expansion with new project wins in Vietnam and Dubai. For both 350 MW and 900 MW projects, it has secured orders for its 1500V 6.25 MW medium-voltage turnkey inverter solution. (Photo Credit: Sungrow)

Key Takeaways

  • Sungrow has secured 1500V 6.25 MW inverter supply contract for 'largest’ solar plant in Southeast Asia for a 350 MW project in Vietnam
  • It has also been chosen by Shanghai Electric for same inverter solution for 900 MW MBR Solar Park phase 5
  • Shuifa Group will explore the opportunity to build a 50 MW solar and storage project in Tibet
  • EnergyTrend’s DRAMeXchange Consulting says top 9 PV companies have been able to stand firm against the negative impacts of the pandemic during H1/2020

Sungrow bags Vietnam project: Solar PV inverter supplier Sungrow has supplied its 1500V 6.25 MW medium-voltage turnkey solution for a 350 MW PV project in Vietnam. The Luning County, Pingfu Province located project is the ‘largest’ solar plant in Southeast Asia and contracted to sell power to Electricity of Vietnam for $0.0709 per kWh for 20 years. This is the new feed-in-tariff (FIT) rate for ground mounted solar power plants. The company’s inverters for this project were selected by state-run EPC Power China Zhongnan Engineering Corporation Limited.

A few days back, the company announced partnering with Shanghai Electric to supply the same 1500V 6.25 MW inverter solution for 900 MW Phase V of Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) in Dubai. The ACWA Power and Gulf Investment Corporation (GIC) project is scheduled to come online in Q2/2021.

Shuifa Group to build 50 MW project in Tibet: Shuifa Group has signed a cooperation agreement with the People’s Government of Shigatse City in Tibet to develop a 50 MW solar and storage project. It is planned to be a clean energy demonstration project to bring attention to development of clean energy industries as hydrogen, energy storage, gas and heating in Xigaze region to help build a clean, low-carbon, safe and energy efficient energy system.

PV companies beat pandemic blues: DRAMeXchange Consulting’s, part of EnergyTrend, latest report analyzes the H1/2020 results by some of the biggies of the solar PV manufacturing industry and observes that though some of them faced challenges due to the COVID-19 pandemic, they were still able to increase their profitability in line with industry market expectations. It shows the impact of the pandemic was limited as the businesses and corporate net interest rates did not fluctuate significantly. Among the 9 PV companies included in the research, Risen Energy, LONGi, and JA solar performed well in terms of YoY revenue growth. Trina Solar, JA Solar, Chint, LONGi and Canadian Solar reported gross profit margins of more than 20%. Among them, LONGi leads with a net profit margin of 21.08%.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani