Risen to invest in 3 GW module facility in Guyang; Yangling Metron reports 53.29% rise in operating income in 2021; Jiangsu Sunshine to build silicon-to-module production in Baotou City; TBEA operating income at RMB 17 billion in Q1/2022; JinkoSolar to use over-raised funds for projects.
Risen Energy to invest in 3 GW module project: Chinese solar panel maker Risen Energy, in an announcement, said that the company plans to invest in a 3 GW module production project in Guyang County. The module facility will be gradually constructed and put into production, depending on the company's overall production capacity, downstream market demand and project construction funding. The estimated total investment is about RMB 734.4 million ($112.2 million).
Yangling Metron operating income at RMB 1.8 billion in 2021: Electroplated diamond wires and diamond hard tools company Yangling Metron New Materials Inc. released its 2021 annual report. In the reporting period, the Chinese company achieved an operating income of RMB 1.8 billion ($0.28 billion), a year-on-year increase of 53.29%. The sales volume of the company's electroplated diamond wire in 2021 was 45.4 million km, an increase of 82.8% compared with 2020. The production volume was 52.7 million km, an increase of 100.41% compared with 2020. The main reason for this growth is that the market demand for diamond wire has increased significantly, it said.
Jiangsu Sunshine & Baotou sign vertically integrated PV manufacturing project: New energy company Jiangsu Sunshine announced that it has signed an investment agreement with the People's Government of Baotou City. As per the agreement, Jiangsu Sunshine plans to build 100,000 tons of polysilicon, 10 GW capacity for monocrystalline rods (including slicing), and 10 GW of cells and modules in the Jiuyuan Industrial Park, Baotou City. The company also plans to build a 10 GW photovoltaic power station. The total investment (excluding that of the power station) is coming to about RMB 20 billion ($3.06 billion).
TBEA shows positive growth in Q1/2022: PV inverter & silicon supplier from China TBEA's first quarter report showed that its operating income was RMB 17 billion ($2.6 billion), an increase of 81.19% year-on-year. This increase in operating income can be attributed to robust market development, increase in the price and sales volume of polysilicon, and increase in power generation from new energy self-operated power stations. In its 2021 annual performance report, TBEA had shown an annual operating income of RMB 61.2 billion (see China PV News Snippets)
JinkoSolar plans to use over-raised funds for projects: Vertically integrated module supplier JinkoSolar said that it intends to use the remaining excess funds from the IPO to invest in the construction of the second phase of the new solar high-efficiency cell project of 8 GW. The total investment for this cell project is RMB 3.4 billion ($0.52 billion), and the planned use of 'over-raised' funds is about RMB 1.1 billion ($0.17 billion). The construction period is 2 years. The company will also invest in a pull rod cutting project with an annual output of 20 GW. Here, the investment is RMB 4.2 billion ($0.64 billion), and it is planned to use RMB 146 million ($22.3 million) of over-raised funds. The construction period is 2 years.