While Huaneng New Energy & Trina reach 500 MW project cooperation goal, China Energy begins 2 GW of distributed rooftop projects, and Daqo New Energy eyes increasing the capital of a subsidiary. Tongwei Group expects net profit of RMB 8 to 8.5 billion ($1.25 to $1.33 billion) in 2021.
Huaneng New Energy & Trina reach 500 MW project cooperation goal: In an announcement, Chinese solar module manufacturer Trina Solar said that the company and new energy investor and promoter Huaneng New Energy have reached the 500 MW annual household project cooperation goal. Since the signing of the strategic cooperation agreement, the two parties have steadily promoted the completion of the agreed cooperation target in 2021-of 500 MW distributed household projects (mainly concentrated in Shandong and Hebei province). In the future, on the basis of continuing to deepen household distributed cooperation (target cooperation above GW level in 2022), the two parties will expand overall cooperation in more areas.
China Energy begins 2 GW whole county PV project: China Energy Investment Corporation Jiangsu Company held a ground-breaking ceremony, marking the beginning of its county-wide distributed rooftop photovoltaic projects. Spread across 12 counties, the installed capacity of the all projects put together will be about 2 GW. These projects will involve multiple industries such as industrial manufacturing, food processing, warehousing and logistics, and government agencies.
Daqo New Energy to increase subsidiary's capital: Chinese polysilicon maker Daqo New Energy announced that the company intends to increase the capital of its wholly-owned subsidiary Inner Mongolia Daqo New Energy with its own or self-raised funds of RMB 9.9 billion ($1.55 billion). Once the capital increase is completed, the registered capital of Inner Mongolia Daqo New Energy will increase from RMB 1 million ($0.16 million) to RMB 10 billion ($1.57 billion). This fund will be used towards the construction of the company's first-phase project in Baotou City, which includes 100,000 tons/year high-purity polysilicon and 1,000 tons/year semiconductor polysilicon. Last year July, Daqo New Energy had announced the share pricing of its principal operating subsidiary Xinjiang Daqo New Energy (see Daqo New Energy Expects To Raise RMB 6.45 Billion With IPO)
Tongwei announces 2021 annual results: Integrated solar PV manufacturer from China, Tongwei Group announced its 2021 annual earnings forecast. The silicon and cell maker expects to achieve a net profit attributable to shareholders of RMB 8 to 8.5 billion ($1.25 to $1.33 billion) in 2021, an increase of 122% to 136% year-on-year. The Group feels that in 2021, benefiting from the growth of downstream demand, the supply of high-purity crystalline silicon products has exceeded demand, the market prices have increased significantly year-on-year, and the company's high-purity crystalline silicon production capacity have continued to run at full capacity, thus achieving significant growth in earnings. Last year, Tongwei had increased its H1/2021 operating income by over 41% (see Tongwei's H1/2021 Cell Shipments Nearly Double)