LONGi features on BNEF Tier 1 list of global PV module manufacturing suppliers; 2022 renewable subsidy expense fell short of expectation: Report; Hongrun to build 20 GW module facility; Elion & DAS Solar sign for 10 GW PV module facility; Deye Technology at RMB 1.54 bn net profit.
LONGi ranked in BNEF Tier 1 list: Chinese vertically integrated solar PV company LONGi announced over WeChat that it has once again topped the Tier 1 Bloomberg New Energy Finance (BNEF) list for the first quarter of 2023. BNEF had recently released the list ranking global PV module manufacturing suppliers. This photovoltaic module manufacturing supplier rating is one of the world-renowned and authoritative industry rating systems, wherein BNEF judges from multiple dimensions such as product quality assurance, government project bidding, and bank financing support. The selection of the first echelon manufacturers is supposed to be the strictest, where manufacturers have to demonstrate that they can provide self-branded, self-produced module products for at least six projects. And these projects have to obtain non-recourse financing from six different commercial banks. LONGi's high-efficiency, high-reliability Hi-MO series products were able to pass the selection and feature on Tier 1 list.
2022 renewable subsidy expense fell short of expectation, says report: The Ministry of Finance in a report said that the central government funds have achieved a revenue of RMB 412.3 billion ($59.1 billion) for the year 2022. This was 97.8% of the budget, which had risen by 3% year-on-year. The expenses stood at RMB 633 billion ($90.8 billion), which was 78.4% of the budget. This was mainly because the expense of renewable subsidy was lower than expected. In 2023, the central government expects to record a revenue of RMB 414.9 billion ($59.5 billion). This is in addition to the RMB 739.3 billion, carried over from 2022. The expense is expected to be at RMB 594.2 billion ($85.2 billion).
Hongrun to invest in 20 GW solar cell module facility: In an announcement, national high-tech enterprise Hongrun Construction Group Co. said that it has signed an agreement with the People's Government of Xuanzhou District. The focus of both the parties will be to work together to develop the new energy industry. And towards this, Hongrun Construction will build a 10 GW high-efficiency photovoltaic cell module facility, a 10 GW photovoltaic cell facility and a 900 MW centralized photovoltaic power station project in Xuanzhou District. Earlier this year, Hongrun had raised funds for 5 GW n-type solar cell facility (see China PV News Snippets)
Elion & DAS Solar sign for 10 GW PV module facility: Solar-hydrogen new energy company, Elion said in an announcement that the company and Chinese solar PV module and cell supplier, DAS Solar, have signed for a 10 GW high-efficiency photovoltaic module facility with the Ordos High-tech Industrial Zone Management Committee. The facility will be developing high efficiency modules fit to be used in desert, and other wasteland areas. With an investment of RMB 5 billion ($0.72 billion), the facility will be built in two phases. In the first phase, construction will take place for 4 GW facility, which is likely to be put into operation in July 2023. The second phase is reserved for 6 GW facility, which will be put into operation by 2024. Once both phases are completed, the annual sales revenue will be around RMB 16 billion ($2.3 billion).
Deye Technology registers RMB 1.54 billion net profit in 2022: Manufacturing technology enterprise integrating R&D, design, production, sales and services, Deye Technology, said that it has achieved an operating income of RMB 5.92 billion ($0.85 billion), a year-on-year increase of 42.03% and a net profit of RMB 1.5 billion ($0.22 billion), a year-on-year increase of 166.2%. The company attributed this growth to the photovoltaic industry that continued to prosper and its inverter business that maintained rapid growth. Recently, Deye Technology had announced its plans to raise RMB 3.5 bn for 28.5 GW inverter project (see China PV News Snippets)