China PV News Snippets

Arctech to provide tracking system to Saudi ASB project; LONGi's net profit at RMB 14.7 billion; Aiko to invest RMB 29.9 billion in cell and module facilities; Shangji Automation net profit rises by 76.6%.

Arctech bags Saudi Arabia 1.5 GW follow-up project: Chinese provider of solar tracking and installation solutions Artech announced on its website that it has signed a deal with Energy Construction International to provide the Sky II tracking system with an installed capacity of 1.5 GW to the Saudi ASB project. This is Arctech's first photovoltaic support project in Saudi Arabia. Considered an important part of Saudi Arabia's Vision 2030 new energy plan, the ABS project is located in the Al Shubah area of Jeddah City, has an installed capacity of 2.6 GW, and is the largest single photovoltaic power station currently under construction in the Middle East. Recently, Arctech announced that it will be supplying 365.8 MW trackers for Mexico's 'flagship' PV project (see Latin America PV News Snippets). Artech's products are featured in the recent TaiyangNews Market Survey on Solar Trackers, which can be downloaded for free here.

LONGi releases 2022 performance report: Chinese vertically integrated solar PV company LONGi released its 2022 performance report. The company, in the reporting period, registered an operating income of about RMB 128.9 billion ($18.7 billion), a year-on-year increase of 60.03%; and a net profit of about RMB 14.7 billion ($2.1 billion), a year-on-year increase of 62.66%. The improved demand in the global photovoltaic market; the continued increase in the production of silicon wafers, cells and modules; the rise in sales volume and price of silicon wafers and modules – all contributed to the increased performance of the company. To learn about LONGi sustainability strategy, watch its presentation in the recently concluded TaiyangNews Solar & Sustainability Conference (see Talisman Huo, LONGi: Sustainability Strategy of the World's Largest PV Company).

Aiko to invest RMB 29.9 billion in cell and module facilities: Chinese solar cell producer Aiko Solar made three investment announcements. Here are the details:

• The company plans to invest RMB 10.6 billion ($1.54 billion) in a 30 GW new high-efficiency photovoltaic module facility in Yiwu Economic and Technological Development Zone. The investment will be (including working capital). The facility will be built in two phases of 15 GW each and is expected to be completed in three years.
• The company plans to invest in Yiwu 15 GW high-efficiency crystalline silicon solar cell facility, whose investment will be about RMB 7.6 billion ($1.1 billion); and a Yiwu 15 GW high-efficiency crystalline silicon solar module facility in Zhejiang, whose investment will be RMB 5.3 billion ($0.77 billion).
• The company plans to invest RMB 1.4 billion ($0.2 billion) in a 3.5 GW of new-generation high-efficiency crystalline silicon solar cells and RMB 5 billion ($0.73 billion) for 10 GW supporting components in Zhuhai base.

Aiko Solar will take part in the upcoming TaiyangNews Virtual Conference on Distributed Solar on April 25, 2023. Register now for free by clicking here.

Shangji Automation net profit rises by 76.6%: Releasing its annual report for 2022, PV production equipment maker and mono-wafer supplier Shangji Automation said that it has achieved an operating income of RMB 21.9 billion ($3.1 billion), a year-on-year increase of 100.8%; and a net profit of RMB 3.02 billion ($0.44 billion), a year-on-year increase of 76.6%. During the reporting period, the company focused on increasing investment in technology research and development, strengthening supply chain management, and actively expanding the silicon wafer sales market. This resulted in an increase in its sales revenue and operating performance.