Changdu City kick-starts the construction of 3.3 GW solar power plant, as Huasun Energy's 5 GW HJT project gets officially settled, and Ningxia GCL New Energy enters into a Third Phase Share purchase agreement with Hunan Xinhua
3.3 GW single PV plant to launch in China: Changdu City recently held a ceremony to kick-start the construction of a solar power plant with an installed capacity of 3.3 GW, a news report said. This is considered to be the largest single photovoltaic plant in the world, and will be producing its first batch of clean energy in Sichuan Province. This is one of 9 clean energy projects listed in China's 14th Five-Year Plan. Once the first batch of 3.3 GW photovoltaic projects is completed, it is expected to generate 6.518 billion kWh of electricity each year, saving about 2 million MT of standard coal and reducing carbon dioxide emissions by 4.5 million MT in a year.
Huasun Energy 5 GW HJT production project planned in Xishan: Chinese solar panel manufacturer Huasun Energy's 5 GW heterojunction cell and module project plan has been officially signed and settled in Xishan Economic Development Zone, a Photovoltaic Network News report said. Spread across 430 acres, the project has an investment of RMB 5.7 billion ($0.90 billion). As per the plans, a Huasun Energy Heterojunction Photovoltaic Industrial Park will be set up here, which will include an advanced photovoltaic research institute, a bifacial microcrystalline heterojunction cell factory and a module factory. As per the plan, the project will be constructed and put into operation in phases, and the annual output value of the first and second phases will exceed RMB 10 billion ($1.57 billion). Last year, at TaiyangNews Virtual Conference on High Efficiency Solar Technologies, Wenjing Wang, CTO of Huasun Energy had spoken about the benefits of splitting the deposition of single layer in different chambers (see Wenjing Wang, Huasun: Towards Over 25% Average Efficiency of HJT Solar Cells for Mass Production)
GCL New Energy sells subsidiary: Chinese polysilicon and silicon wafer supplier GCL New Energy announced that its indirect subsidiary, Ningxia GCL New Energy, has entered into a Third Phase Share Purchase Agreement with Hunan Xinhua. Pursuant to the third phase, Ningxia GCL has agreed to sell the entire equity interest of Ningxia GCL to Hunan Xinhua for RMB 8.8 million ($1.38 million), which will be paid in two instalments of RMB 5.28 million ($0.83 million) and RMB 3.52 million ($ 0.55 million) respectively. Last year in August, GCL New Energy subsidiaries had entered into a First Phase, Second Phase and Third Phase Purchase Agreements with Xinhua Hydropower Group to be completed within a period of 12 months. The net payable from all these transactions amount to approximately RMB 233 million ($36.33 million), which the company intends to use for repayment of its debts.