IRICO to raise RMB 2 bn for ultra-thin PV glass: Solar PV glass producer IRICO Group New Energy stated its plans to raise RMB 2 billion ($0.31 billion) for the development of a ultra-thin, high-transmission photovoltaic glass production project. The company intends to apply for an initial public offering of A shares on Shenzhen Stock Exchange's ChiNext. The number of A shares Irico plans to issue will be no more than 58.78 million with a par value of RMB 1/share ($0.15/share). In March, IRICO had announced its annual net profit to increase by 127% to 145% (see China PV News Snippets: SOFAR, Jolywood, IRICO, Qingdao)
Huawei establishes one more digital energy company: Chinese technology company Huawei Technologies has established another digital energy technology company with a registered capital of RMB 20 million, a Photovoltaic Network News report said. In June 2021 too, Huawei Technologies Co., Ltd had established its digital arm – Huawei Digital Energy Technology – with a registered capital of RMB 3 billion (see China PV News Snippets: Sungrow, Zhongli, Huawei, CGN). The focus of the new company called Shanghai Huawei Digital Energy Technology Co., Ltd, similar to the previous one, will be research and development of online energy metering and monitoring technology, power industry high-efficiency energy-saving technology, and emerging energy technologies.
Jiawei subsidiary to sell 90% stake in Jinchang plant: New energy company JiaWei Renewable Energy released a statement saying that its wholly-owned subsidiary Jiangsu Huayuan New Energy Technology Co will be selling its 90% stake in Jinchang Zhenxin Xipo Photovoltaic Power Generation for RMB 183 million ($28.25 million). This transaction will help the company improve its cash flow. In April 2021 too, the subsidiary had transferred 100% of another solar power plant, Jinchang Xipo 200 MW PV project for RMB 280 million (see China PV News Snippets: Ginlong, JiaWei, Jinchen Solar)
Three Gorges partners with Shaoguan: Chinese state-owned power company Three Gorges Renewables Group, in an announcement, stated that it has signed an investment agreement with Shaoguan City People's Government. With this, Three Gorges will invest RMB 28 billion ($4.32 billion) in new energy power plants and other projects in Shaoguan. In April 2021, the company had signed a 'million-kilowatt' PV project development agreement with the Huili County Government (see: China PV News Snippets: China Three Gorges, JA Solar, Lead)