Drinda forecasts 9M 2023 net profits to rise up to 340%; Astronergy Jiuquan base starts operations; TÜV SÜD certification for DMEGC Solar's n-type TOPCon single-glass modules; Haitai Solar to relocate 10 GW TOPCon PV cell facility; Tongcheng to ramp up TOPCon cell capacity by 2023-end.
Drinda forecasts huge rise in net profits for 9M 2023: Solar PV cell and automotive instrument panel assembly manufacturer Hainan Drinda New Energy Technology Co. Ltd. has forecast its net profit to increase 290% to 340% to RMB 1.6 billion ($218.8 million) to RMB 1.8 billion ($246.2 million) for the first 3 quarters of 2023. The company attributes this uptick to many factors, chiefly the boost in demand driven by lower costs on the back increased silicon production capacity and the subsequent decrease in prices. Drinda also cited the accelerated transition from p-type to n-type technology as a factor; n-type products comprised 62.46% of its product structure during the reporting period. The company also said that its capacity expansion to cater to increased demand resulted in a substantial increase in cell shipments.
On the operational front, the company commissioned the 10 GW Chuzhou Phase II and the 13 GW Huai'an Phase I facilities during the period. Drinda's cell shipments increased around 183% year-on-year to 19.55 GW. Broken down into constituents, the company shipped 7.34 GW of p-type PERC cells, with N-type TOPCon accounting for the remaining 12.21 GW. At present, the company has 9.5 GW PERC production capacity at its Shangrao base, 18 GW p-type TOPCon production capacity at Chuzhou base, and is in the process of expanding its n-type TOPCon production capacity at Huai'an base to 26 GW. In September, the company reported a revenue increase of 112.83% YoY for H1 2023 (see China Solar PV News Snippets).
Astronergy's Jiuquan base starts operations: Astronergy has announced that it has commissioned the 2 GW TOPCon cell production line at its Jiuquan Intelligent Manufacturing Base. The company has invested RMB 1.5 billion ($205.1 million) in the second phase, which will help the company in its aim to achieve 53 GW cell and 55 GW module production capacity by the end of 2023. Astronergy says that the Jiuquan base has achieved 2 GW each of high-efficiency cells and modules of annual capacity. As part of the third phase, the company will expand its high-efficiency cell capacity at the site to 10 GW annually.
DMEGC Solar gets TÜV SÜD certification for n-type TOPCon single-glass modules: Vertically integrated solar module manufacturer DMEGC solar has announced that it has received TÜV SÜD certification for its latest N-type TOPCon high-efficiency single-glass module products. The company said that the certifications are based on IEC 61215-1:2021, IEC 61215-1-1:2021, IEC 61215- 2:2021, IEC 61730-1:2023 and IEC 61730-2:2023 standards. This comes close on the heels of the company announcing the commissioning of its TOPCon high-efficiency cell manufacturing base in Yibin City (see China Solar PV News Snippets).
Haitai Solar plans to relocate 10 GW TOPCon high-efficiency PV cell facility: Green energy company Haitai Solar has announced it wants to relocate its planned facility in the Yancheng Economic and Technological Development Zone Optoelectronic Industrial Park. The company cites issues and uncertainties in land acquisitions as the reason behind the relocation. Haitai Solar now plans to move its 10 GW TOPCon high-efficiency photovoltaic cell facility to Chuzhou High-tech Zone in Tianching City. The company plans to invest a total of RMB 5 billion ($ 683.8 million) in new 400-acre facility. Haitai Solar expects the new facility to become operational 18 months from the start of construction.
Heguang Tongcheng PV Technology to hit TOPCon solar cell capacity by end of 2023: Solar PV manufacturer Heguang Tongcheng Photovoltaic Technology (Yibin) Co., Ltd. has announced that it aims to hit the planned 16 GW capacity for Phase I by year-end 2023. The cell manufacturing facility is being built in 2 phases of 16 GW each. Phase I started construction in May of 2023, and the company says that it is confident of achieving the target for Phase I given the speed of developments at the site. The company is investing a total of RMB 15 billion ($2.05 billion) in the facility located in Yibin High-tech Zone, which is expected to generate revenues of RMB 10 billion ($1.37 billion) in annual revenues once Phase I is fully operational. The facility rolled out the 1st cell from its production line in September 2023.