NEA releases China renewable energy status; Lushan New Materials to issue convertible bonds; 22 GW silicon rod and wafer project of Jingyuntong approved; Akcome Metal Technology wins bid.
China's solar PV capacity now at 336 GW: TheNational Energy Administration (NEA) of China announced that 54.75 GW of renewable energy was installed in China in the first half of 2022. With this, China's installed renewable energy power generation capacity has now touched 1,118 GW, out of which photovoltaic power generation capacity stands at 336 GW. This year, till June 2022, about 30.88 GW of photovoltaic power generation was added (see China installed 31 GW solar PV in H1/2022), which makes up for 44.7% of the newly installed capacity.
Lushan New Materials to raise RMB 524 million: Solar PV encapsulation film supplier Lushan New Materials announced that it will be issuing convertible corporate bonds for about RMB 524 million ($77.61 million). With this issuance, the company's cumulative bond balance will be about 40% of the company's net assets. Out of the raised funds, RMB 367 million ($54.36 million) will be used for the solar cell packaging film expansion project, while RMB 157 million ($23.25 million) will be used as working capital. Last year, Jianhu County High-tech Zone and Jiangsu Lushan New Materials had signed an annual production agreement for 20 GW solar cell packaging film (see China PV News Snippets).
Jingyuntong 22 GW silicon rod and wafer project in Sichuan: The Sichuan Provincial Development and Reform Commission said that it has approved photovoltaic equipment manufacturer Leshan Jingyuntong Semiconductor Materials' 22 GW high-efficiency monocrystalline silicon rod and wafer project. Situated in the new industrial base of Wutongqiao, the project will see a production line for monocrystalline silicon rods and wafer materials being built. With an investment of RMB 5.3 billion ($0.78 billion), once finalized, the project will have an estimated annual output of 2,255.17 million silicon wafers (210 mm) and 84,096 tons of monocrystalline silicon round rods.
Akcome Metal Technology wins Mongolia and Middle East project bid: PV Mounting systems manufacturer Akcome Metal Technology said via WeChat that it has won the bid for a Mongolia and a Middle East mounting project. With this, Akcome will be providing Mongolia with a fixed mounting system and a single-axis tracking mounting system for the Middle East. The SMART tracking mounting system would include Akcome's 1P independent single row (1P-Tracking System) and a 2P independent single row multi-point tracking mounting system (2P-Tracking System).