SolaX Power lists on Shanghai Stock Exchange; CNBM to set up PV cell packaging materials facility; Horad starts construction on global HQ; Bohai New Energy receives EIA approval; GW-level copper interconnection production line equipment deal for Sunwell.
SolaX lists on Shanghai Stock Exchange: Solar energy storage system (ESS) provider SolaX Power has announced that it has been officially listed on the Shanghai Stock Exchange STAR Market. The company, trading under the stock code 688717, aims to raise RMB 809 million ($112.87 million) in funding. It plans to include RMB 281 million ($39.24 million) of the proceeds for the expansion of ESS and inverter production, RMB 151 million ($21.04 million) for the construction of the Light and Storage Smart Energy Research and Development Center, RMB 76 million ($10.58 million) for overseas marketing and service system projects, and the remaining RMB 300 million ($41.86 million) for supplementary working capital.
CNBM to set up PV cell packaging materials facility in Tongcheng Economic Development Zone: China National Building Material Group Co., Ltd. (CNBM) has announced that it has signed a cooperation agreement with Tongcheng Economic Development Zone Construction Investment Group. According to the agreement, CNBM will invest about RMB 2.5 billion ($349 million) to build a photovoltaic (PV) cell packaging material facility in the zone. The facility will consist of 2 production lines with a daily output of 1,200 tons each. The company plans to start construction on the 1st production line in March 2024 and expects to start production in March 2025. The 2nd production line is expected to become operational by October 2025. At full capacity, the facility is expected to generate RMB 3 billion ($418.9 million) in annual revenues for the company.
Horad breaks ground on global headquarters: High-tech enterprise Horad New Energy has broken ground on its global headquarters in Suzhou, China. The company is investing about RMB 530 million ($74 million) in the construction of the 125,000 sq. m. headquarters, which covers a total area of 88 acres. The facility will be used for the development and production of new high-end PV module equipment production lines and new process equipment. The company aims to manufacture more than 20 module equipment production lines a month, or 180 GW of module production capacity annually. It is expected to generate over RMB 4 billion ($558.5 million) in annual revenues for the company.
In June of 2023, Horad announced the signing of an agreement with American PV module manufacturer SEG SOLAR to build a 2 GW TOPCon advanced module manufacturing line at SEG's Texas base in the United States (see China Solar PV News Snippets).
Bohai New Energy's 10 GW TOPCon cell fab receives EIA approval: Bohai New Energy (Hefei) Co., Ltd. has announced that it has received the environmental impact assessment approval from The Ecological and Environmental Bureau of Hefei City for its 10 GW TOPCon solar cell manufacturing facility. The 1st phase of the facility, which will be located in Lujiang County, Hefei City, Anhui Province, will have a production capacity of 5 GW of high-efficiency TOPCon solar cells.
Sunwell signs GW-level copper interconnection production line equipment deal: Metallization and solar equipment maker Sunwell has announced that it has won the bid for a GW-level heterojunction copper interconnect production line from a leading industry customer. As part of the winning bid, Sunwell will provide the main equipment and automation for multiple process sections in the copper interconnect metallization process. The company said that it has also signed an equipment supply contract with the customer.