Sungrow eyes at increasing sales network in Indones by signing 300 MW sales deal; JinkoSolar shows significant growth in 2021; Huaxiang & TBEA launch RMB 100 million JV; Polysilicon prices continue to rise.
Sungrow inks 300 MW sales deal with Utomo SolaRUV: At Solartech Indonesia 2022, China's Sungrow signed a 300 MW strategic partnership agreement with its channel agent Utomo SolaRUV. This has been done with a view to increase its sales network in the Indonesian market. Recently, Sungrow announced scaling up its India production capacity to 10 GW annually (see India PV News Snippets)
Huaxiang & TBEA launch JV for PV projects: Large-scale equipment manufacturer Huaxiang Group announced progress on the establishment of a joint venture photovoltaic power generation company with solar PV inverter maker TBEA Xinjiang New Energy in Hongdong County. The new company, Shanxi Huate New Energy Technology Co., Ltd., has a registered capital of RMB 100 million ($1.57 million), of which Huaxiang has contributed RMB 49 million ($7.69 million) in cash, accounting for 49% of the registered capital. The JV is being established to build a 1 GW PV power generation project and a supportive production project in Hongdong County.
Polysilicon prices up: The price of polysilicon continued to show a slight increase. This is because the production of silicon materials from Tongwei, GCL, Xinte, Asia Silicon have not been released as expected, leading to insufficient materials in the market. This week, the price range of China's monocrystal re-feeding material is between RMB 242,000-253,000/ton ($37985 – 39711/ton), and the average transaction price has risen to 248,200 RMB/ton ($389583/ton), a week-on-week increase of 0.16%, according to China Silicon Industry.