Construction begins for TEDA's large distributed PV project; Yujing Machinery to sell 210 diamond wire slicer to Trina; State Grid to invest in Agri-PV projects; China Datang procurement bid winners out; GoodWe H1 2002 report released; Jinchen Corp launches M Series production line; Solis revenue at RMB 2.4 bn.
TEDA 260 MW PV project begins construction: TEDA Investment Holding, through a WeChat communication, said that its 260 MW distributed photovoltaic power generation project has begun construction. Located in the Tianjin Economic and Technological Development Zone, the project has an investment of about RMB 1.4 billion ($0.20 billion) and will be constructed in 3 phases. The project is expected to be completed by the end of 2025 and will be reducing carbon emission by 229,918 tons.
Hunan Yujing Machinery to sell diamond wire saws to Trina: Technology-based enterprise Hunan Yujing Machinery announced that it has signed an agreement with Chinese solar module manufacturer Trina Solar to supply 210 diamond wire saws worth RMB 65.8 million ($9.5 million). In June 2022, Trina had disclosed it would build a zero-carbon industrial facility in Qinghai that will annually produce 300,000 tons of industrial silicon, 150,000 tons of high-purity polysilicon, 35 GW of monocrystalline silicon, 10 GW of wafers, 10 GW of cells, 10 GW of modules, and 15 GW of auxiliary materials. Meanwhile, Hunan Yujing Machinery had registered profit in H1/2022 (see China PV News Snippets)
State Grid to invest RMB 1.6 billion in Agri-PV projects: State Grid Jilin Province Electric Power said that it is planning to invest in the construction of Yongning Jidian Baiji Xinping (Phase I and Phase II) agricultural and PV power generation project in Guangxi . This is part of the company's new energy development strategy and is aimed at increasing clean energy. The total investment of the project will be about RMB 1.6 billion ($0.23 billion), out of which the investment for the first phase will be RMB 848 million ($122.9 million), and RMB 845 million ($122.5 million) for the second phase.
China Datang 2.5 GW inverter procurement partners shortlisted: China Datang Corporation announced the winning candidates for the central and distributed string inverter procurement of its 2022-2023 photovoltaic power generation project. Sineng Electric won with a bid amount of RMB 33.3 million ($4.8 million), while Kehua ranked second with a bid amount of RMB 42.02 million ($6.09 million). For string inverters, GoodWe emerged as winner with a bid amount of RMB 12.2 million ($1.7 million).
GoodWe releases H1 2022 report: Releasing its 2022 semi-annual report, solar inverter manufacturer Goodwe said that the total revenue of the company reached RMB 1.4 billion ($0.2 billion), up 33.61% year on year. The net profit attributable to shareholders was at RMB 54.6 million ($7.9 million), down 64.32% year on year. During the reporting period, the sales volume of its inverters touched about 233,700 sets. Among that, the sales volume of pure grid-connected inverters was 16,500 units, accounting for 70.60%, and energy storage inverters reached about 68,700 units, equal to 29.40%. However, due to a significant increase in the costs of semiconductors, bulk commodities and international logistics, combined with the company's long-term strategic layout, the rise in the number of employees and the equity incentive plan, the growth rate of expenses was much higher than that of operating revenue, resulting in a significant decline in net profit compared with the same period last year. Earlier this year, GoodWe had released its DNS G3 PV inverter (see China PV News Snippets)
Jinchen Corp launches M Series of module equipment production line: Chinese PV production equipment maker Jinchen Cor, took part in the 5th China International Photovoltaic Industry Summit Forum in Chengdu where it launched its M series of high-efficiency module equipment production line, reported local media. The new production line comes with six advantages, which include module packaging technology for thinner cells and glass, higher production capacity, over 20% energy saving for electric heating laminating machines, among others. Compared with the current mainstream 18S line, the production capacity per line can be increased by 50% to 1.2 GW. In June, Jinchen and Adani Solar signed a 2 GW PV module line deal (see China PV News Snippets)
Solis revenue at RMB 2.4 billion in H1 2022: Chinese solar PV inverter manufacturer Ginlong Technologies (Solis) released its semi-annual performance report for 2022. The company reported total revenue of RMB 2.4 billion ($0.35 billion), up 67.96% year on year. The net profit attributable to shareholders was at RMB 398 million ($57.7 million), up 67.21% year on year. The net operation cash flow touched RMB 299 million ($43.3 million), up 21.15% year on year. During the reporting period, its grid-connected inverter business achieved a total revenue of RMB 1.8 billion ($0.26 billion), with a year-on-year growth of 39.78%. The revenue of energy storage inverter business touched RMB 298 million ($43.2 million), with a year-on-year growth of 348.72%, accounting for 12.21%, meaning that it has become a new growth point of the company. The revenue of electric power business touched RMB 58.2 million ($8.4 million), up 52.49% year on year.