GCL New Energy releases 2020 profit warning: Making an announcement regarding its performance in 2020, Chinese solar grade polysilicon producer GCL New Energy warned that it is expected to incur a net loss of not less than RMB 900 million ($138.43 million) for the year as compared to a net profit of approximately RMB 605 million ($93.05 million) for the year ended 31 December 2019. The audited consolidated annual results of the Group for the year will be published around 29 March 2021. In December 2020, GCL New Energy had sold equity in four photovoltaic companies to bring in RMB 291 million ($44.48 million) for the company (see China PV Snippets: Sungrow, Gaojing, Tongwei, GCL)
LONGi presents Hi-MO 4m: The LONGi Distributed Product Launch Conference and China Distributor Conference held in Wuzhen saw the company present its new Hi-MO 4m 66 module, which it introduced in early February (see New 66 Cell Hi-MO4 Monofacial Module By LONGi). With an area of about 2 m2, weight of 22kg and power of 410-420 W, the new module can be widely used on rooftops in residential, industrial and commercial applications. As the world approaches the era of grid parity in 2021, LONGi said it has re-focused on the specific demands of the distributed generation market with a view to delivering value for customers in the sector with new innovative products.
Canadian Solar invests in Berlin based Solarworx: Canadian Solar and Berlin based off-grid solar pioneer SolarWorX announced that they have entered into a strategic partnership, in which Canadian Solar will invest in SolarWorX as part of the start-up's series A investment round. The Canada headquartered Chinese solar power company will be the lead investor, accompanied by co-investors EIT InnoEnergy, one of the leading European investors in sustainable energy innovations, and DEG – Deutsche Investitions- und Entwicklungsgesellschaft, the German development finance institution. The seven-digit funding that will be raised is expected to enable SolarWorX to expand its product portfolio and sales activities, and give an overall push in its efforts to provide electricity to about 1.2 billion people who still do not have a stable grid connection.