Risen Energy of China has announced entering a strategic cooperation agreement with fellow Chinese supplier of solar PV glass Flat Glass Group in a deal that's pegged at RMB 8.908 billion ($1.37 billion) based on an average price for 3.2 mm thick photovoltaic glass at RMB 42.00 per m² and an average price of 2 mm thin PV glass at RMB 34.00 per m².
Under the agreement signed, Flat Glass Group will supply approximately 234 million sq. mtr. of photovoltaic rolled glass for Risen Energy to use for its solar modules. It translates into 34 GW worth of an order. The purchase price is to be negotiated on a monthly basis which may alter the final purchase amount.
Flat Glass needs to ensure the delivery is complete between 2021 and 2023, as per the agreement entered on January 21, 2021. It will supply the order through its subsidiaries Anhui Flat Solar Glass Co., Ltd., Zhejiang Jiafu Glass Co., Ltd., Flat (Vietnam) Co., Ltd. and Flat (Hong Kong).
The procurement agreement with Flat Glass Group is part of Risen Energy's plans to ensure long-term stable supply of photovoltaic rolled glass for its modules in line with the company's future development strategic plans, the management announced in a stock exchange filing.
Risen Energy aims to have a cumulative solar module production capacity of 30 GW by the end of 2021 and is building new PV production bases in Ninghai, Changzhou, Yiwu, Chuzhou, and Malaysia. All of its future capacity will roll out as large sized modules, Titan as it calls it, with the target being up to 720W power rating for its 210mm sized modules by H2/2022 as shared by the manufacturer's Head of Product Management Yifeng Song during the first day of TaiyangNews Advanced Module Technologies Conference on January 27, 2021. Song added that while Risen Energy will stay with 210mm wafer size and overall module dimensions to reach that level it will be changing cell technology from PERC to higher efficiency heterojunction (HJT) (see Day I: TaiyangNews Advanced Module Technologies Conference).
TaiyangNews will launch its Advanced Solar Module Technology 2021 Report on Jan 28, that's day 2 of TaiyangNews Advanced Module Technologies Conference where other industry leading solar module manufacturers JinkoSolar, LONGi Solar and Chint/Astronergy will share their perspectives on Advanced Solar Modules for residential, C&I and utility scale applications. Register free here.