China PV News Snippets: Xinyi Solar, HT-SAAE, Risen Energy

Xinyi Solar Places New Shares To Raise HKD 2.6 Billion To Expand Solar Glass Production Capacity; HT-SAAE Bags 150 MW Module Order From India; ERGO Arena Stadium In Poland Deploys Risen Energy Modules
04:41 PM (Beijing Time) - 04. September 2020
China PV News Snippets: Xinyi Solar, HT-SAAE, Risen Energy

Risen Energy has supplied its solar modules for Polish multipurpose arenas called ERGO Arena and sees great opportunity to be explored in the Polish solar market. (Source: ERGO Arena/Twitter)

Key Takeaways

  • To fund its production capacity expansion plans, Xinyi Solar has placed new shares to raise HKD 2.6 billion
  • India’s Tata Group has placed a 150 MW solar module order with HT SAAE for over RMB 200 million
  • Risen Energy has supplied its 144 half-cell mono PERC solar modules to ERGO Arena in Poland

Xinyi Solar to raise HKD 2.6 billion to expand capacity: Xinyi Solar, one of the world’s largest solar PV glass manufacturer, has pledged new share issue for a total of 282 million hoping to raise gross proceeds of more than HKD 2.66 billion ($343 million) which it plans to deploy for capital expenditure of solar glass production capacity expansion and general working capital of the group. The price per share has been fixed at HKD 9.44 ($1.22). Net proceeds should add up to HKD 2.64 billion ($341 million).

 These shares represent close to 3.45% of the company’s total existing issued share capital and 3.34% of its issued share capital as enlarged by the issue of placing shares, it stated. Citigroup Global Market Limited is the company’s placing agent that has agreed to place these shares at 6 places comprising professional, institutional and other investors. Xinyi Solar’s H1/2020 financial results were very promising with its solar manufacturing and power plant business doing well (see Xinyi Solar’s Net Profit 47.6% Up In H1/2020).

Tata Power to procure solar modules from HT-SAAE: Solar cell and module producer HT-SAAE part of Shanghai Aerospace Automobile Electromechanical Co., Ltd. has secured a module supply order for 150 MW from India’s Tata Group. According to the company, it will supply its 335W polycrystalline solar modules to the Indian company for a total order value of over RMB 200 million ($29 million). The Chinese supplier has sold over 600 MW capacity to India. This deal with Tata Group, it hopes will allow it to further develop in this growing solar PV market.

Risen Energy’s modules for Polish stadium: Risen Energy says it supplied its 144 half-cell mono PERC solar modules to one of the largest multipurpose arena/stadium in Poland. The 100 kW project with monocrystalline solar modules from Risen Energy will enable the stadium contribute to the spread of green energy in the country, the Chinese company said. It sees immense opportunity in the Polish solar PV market for growth and says it has successfully established a complete localized distribution system here working closely with local partners to seize market share. Poland’s cumulative installed solar power capacity till August 1, 2020 was over 2.26 GW and industry experts see it reaching a cumulative of up to 7.8 GW by 2025 (see Poland Crosses 2.26 GW Cumulative PV Capacity).

 

Meena Nair

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Meena Nair