JinkoSolar's Yuhuan base starts operations; Longyuan to acquire 7 companies; Tongwei's solar material plans for Ordos; Wonder Solar's 3 GW perovskite module facility; Shuangliang plans ingot fab; Guangyin's new perovskite cell record, etc.
JinkoSolar's Yuhuan base starts operations: Solar module manufacturer JinkoSolar has announced via WeChat that the 1st phase of its Yuhuan high-efficiency solar module facility is now officially online. The Yuhuan high-efficiency solar cell module production base is said to be the largest single investment project in Yuhuan City, Taizhou City, Zhejiang Province. The facility is expected to produce 10 GW of high-efficiency solar cells and 30 GW of high-efficiency solar modules once at full capacity. The company plans to invest nearly RMB 10 billion ($1.4 billion) in the production base that spans 1,700 acres. At full capacity, it is expected to generate RMB 72 billion ($10 billion) in annual revenues for the company.
TaiyangNews Managing Director Michael Schmela recently conducted an exclusive interview with JinkoSolar General Manager, Energy Storage Business Kevin Liang, at the TaiyangNews and SNEC Energy Storage, Hydrogen and Fuel Cell Leadership Conversations (see SNEC ES Exclusive: JinkoSolar Executive Interview).
Longyuan plans to acquire 7 companies: Longyuan Shanghai, a wholly-owned subsidiary of China Longyuan Power Group, has announced its plans to acquire 7 companies for a total of RMB 679.7 million ($95.1 million). Longyuan Shanghai has entered into an Equity Transfer Agreement with Dongneng Xinyuan, Xinyuan No.1 and Guoneng Low-Carbon Fund, respectively, and has conditionally agreed to acquire 100% equity interest for the 7 target companies from each of the parties. The target companies for acquisition are: Qinzhou Jingneng, Hechi Shengbu, Hechi Jinghong, Xinxusheng New Energy, Jinghong Photovoltaic, Chicheng New Energy, Senyong New Energy.
Tongwei plans to invest in integrated solar material facilities in Ordos: Vertically integrated solar manufacturer Tongwei has announced its plans to build a new solar material factory in Ordos, Inner Mongolia. The company has signed an agreement with the local authorities to invest RMB 28 billion ($3.9 billion) in a 2-phase project that will produce 500,000 tonnes of industrial silicon and 400,000 tonnes of polysilicon every year. With this facility, Tongwei aims to benefit from low raw material costs.
Separately, Tongwei Solar announced late last month that its HJT-based THC modules have achieved a front-side power output of 755.03 W and a conversion efficiency breaking through to 24.31%. This new benchmark in the power and efficiency of HJT modules, as the company calls it, has been certified by TÜV SÜD. The company says that this accomplishment marks the 6th time that it has set new records for power and efficiency in HJT modules in 2023. The breakthrough in power is attributed to advancements in cell velvet surface structure, CVD passivation, and metallization technologies, coupled with optimizations in the optical and electrical design of the modules.
Wonder Solar to set up 3 GW perovskite module facility in Fuyang: Wonder Solar has signed an agreement with the People's Government of Yingshang County, Fuyang City to set up a perovskite PV module facility. The company will invest in the facility that will produce 3 GW of perovskite PV modules and 1,200 tons of perovskite materials. Simultaneously, a 30 GW perovskite cell facility is being planned with an annual production of tens of thousands of tons of perovskite material, and the company also plans for a perovskite module equipment facility. A perovskite solar PV cell research institute is also being planned, leveraging the Fuyang Advanced Research Institute.
Shuangliang plans to build 38 GW monocrystalline silicon ingot fab: Solar PV production equipment maker Shuangliang Eco-Energy has announced its intention to raise a total of RMB 2.56 billion ($358.55 million). The company plans to do this through the issuance of stocks to specific entities. The funds will be allocated for the construction of 2 facilities: a 38 GW large monocrystalline silicon ingot casting project in Baotou City, Inner Mongolia Autonomous Region, and a project in Ligon Town, Jiangyin City, Jiangsu Province, to build an annual production capacity of 700 sets of green and intelligent hydrogen production equipment. The remaining funds will be used for supplementary working capital.
In October 2023, Shuangliang Eco-Energy announced that it had signed an "Entrusted Processing Contract" with Shuangjing New Energy to supply monocrystalline silicon bricks (see China Solar PV News Snippets).
LONGi's Hi-MO 7 modules powering largest Uzbek solar PV plant: The 400 MW 1st phase of a 1 GW solar PV project, invested and constructed by China Energy Engineering Gezhouba Group Overseas Investment Co., Ltd. in Uzbekistan, has been successfully connected to the grid. It is the largest N-type solar PV power station overseas, exclusively using LONGi's Hi-MO 7 solar modules. The power plant participated as a showcase project in the new energy investment project grid connection launch ceremony hosted by the Uzbekistan Presidential Office and the Ministry of Energy. This project also represents the 1st major new energy investment by a Chinese enterprise in Central Asia after the China-Central Asia Summit in May 2023.
Guangyin Technology's perovskite single-junction solar cell hits 22.07% efficiency: Guangyin Technology has announced via WeChat that its 30 cm × 40 cm large-size perovskite single-junction solar cell has achieved an efficiency of 22.07%. The company says that this has been certified by the China National Photovoltaic Industry Measurement and Testing Center. The company has bettered its previous efficiency of 21.63%, achieved in October of 2023, for a perovskite single-junction solar cell at the thousand square centimeter level.
Recently, Mellow Energy announced that its 30 cm × 30 cm large-size perovskite photovoltaic module has achieved a conversion efficiency of 22.86% (see China Solar PV News Snippets).
Zhengqi Solar starts construction on Phase I of 20 GW high-efficiency solar cell facility: Late last month, Zhengqi Solar announced that it has initiated the 1st phase of its 20 GW high-efficiency solar cell facility. The Zhengqi Solar 20 GW high-efficiency solar cell and 10 GW module manufacturing facility is located in Ma'anshan City, Anhui Province, and is planned to be implemented in 3 phases.
The plan for the 1st phase is to build 5 GW of high-efficiency TOPCon solar cell capacity. The 2nd phase aims to include 5 GW of high-efficiency solar cells and 5 GW of modules, with construction expected to commence this year. The 3rd phase envisions the establishment of 10 GW of high-efficiency solar cells and 5 GW of modules. Once fully complete, the facility is expected to generate over RMB 20 billion ($280.4 million) in annual revenues.
Sunova to construct 5 GW HJT production and energy storage facility: In December 2023, Sunova Solar signed an agreement with the Huishan Economic Development Zone Committee to invest around RMB 2.05 billion ($287.4 million) in a 5 GW HJT advanced production line and energy storage facility. The company cites the positive trend in the HJT market and a rapid surge in orders as the driver behind this investment decision. The company expects to acquire land and commence construction in 2024, with production slated to begin in 2026 and reach full capacity in 2028.
China's cumulative renewable energy installed capacity overtakes thermal power in 2023: According to data released by China's National Energy Administration at the National Energy Conference for 2024 held in Beijing, the country has added about 330 GW of electricity generation capacity throughout 2023. This is a growth of 12.9% YoY, bringing the total installed capacity to 2,900 GW. Renewable energy accounts for 1,450 GW of the total installed capacity, surpassing 50% of the nation's total power generation capacity and exceeding thermal power installed capacity.
The total electricity generation from renewable sources in China has reached 3,000,000 GWh, accounting for about a third of the country's total electricity consumption. Notably, the combined electricity generation from wind and solar PV has surpassed the corresponding electricity consumption of urban and rural residents during the same period, constituting more than 15% of the nation's total electricity consumption.