CECEP to raise RMB 6 billion for PV projects and working capital; Hangzhou First to invest in 250 million sq meters film project; China Huaneng Research Institute produces laminated PV modules; Huitian New Material operating income at RMB 960 million.
CECEP Solar to raise RMB 6 billion: Holding subsidiary of China Energy Conservation and Environmental Protection Group, CECEP Solar said that it plans to raise RMB 6 billion ($0.91 billion), which will be used for the construction of photovoltaic power station projects and supplementary working capital after deducting issuance costs. As per the plan, the fundraising will be invested in 9 photovoltaic power generation projects, including the 300 MW photovoltaic composite power generation project in Taiping Town, the 30 MW grid-connected PV power generation project in Dunhuang, and the 50 MW fishery-PV power station project in Liukou, Guixi.
Hangzhou First to invest RMB 549 million in film project: Solar module encapsulation material world market leader Hangzhou First announced that in order to meet the needs of the company's photovoltaic material business, it will be using the self-raised funds of RMB 549 million ($83.05 million) for a high-efficiency module packaging film manufacturing project with an annual output of 250 million square meters. The construction period will be for 3 years. Earlier this month, Hangzhou had shared its plans to increase production capacity of PV packaging materials (see China PV News Snippets)
Large-size matrix laminated PV module successfully produced: China Huaneng Group Clean Energy Technology Research Institute made an announcement that it has independently developed a large-scale matrix laminated solar module in Zibo, Shandong. This indicates that China's photovoltaic module internal cell arrangement technology has made a breakthrough, and can now effectively promote the iterative upgrading of China's photovoltaic industry technology.
Huitian New Materials releases Q1/2022 results: Solar backsheet material maker Huitian New Material released its first quarter report for 2022 and said that it has achieved an operating income of RMB 960 million ($145.2 million), a year-on-year increase of 33.1%. This rise is due to the expansion of the sales scale and the increase in orders. However, the operating cost during this period was RMB 740 million ($112 million), a year-on-year increase of 38.8%.