Saudi Aramco commissions JinkoSolar's SunTera liquid-cooled ESS; Tongwei officially joins RE100; Risen Energy's HJT modules deliver up to 6.86% power gain; Sungrow to establish new energy fund with 3 companies; DMEGC Solar forecasts up to 15.02% increase in FY2023 net profits.
Saudi Aramco commissions JinkoSolar's SunTera liquid-cooled ESS: 6.88 MWh of SunTera liquid-cooled energy storage systems and 5 MW of Tiger Neo n-type bifacial modules supplied by JinkoSolar have been commissioned at the Saudi Aramco East-West Pipeline Pumping Station Community Project. On the project's completion, it will build a new residential community for Saudi Arabia's East-West Pipeline Pumping Station and a Pressure Reducing Station. It is aimed at replacing existing residential communities located in hazardous areas and will accommodate 1,748 Saudi Aramco employees and contractor personnel working at the pumping station.
JinkoSolar recently announced that it was awarded the Solar Leadership Award in the PV Modules category by Solar Power World for the year 2023 (see China Solar PV News Snippets).
Tongwei officially joins RE100: Integrated solar PV manufacturer Tongwei Solar has officially joined the RE100 global initiative as a gold member. The company says that it is committed to achieving the goal of 100% renewable energy use by 2030 at the latest.
Led by the Climate Group in partnership with CDP, RE100 is a global initiative that brings together the world's most influential companies and is committed to promoting the use of 100% renewable electricity. Tongwei will be one of the more than 400 members, including Apple, Google, Meta Platforms, Coca-Cola, Microsoft, among others.
Tongwei Solar has announced that it has signed a 300 MW module supply agreement with Memodo (see China Solar PV News Snippets).
Risen Energy's HJT modules deliver up to 6.86% power gain: Solar panel manufacturer Risen Energy has said in a release that its HJT Hyper-ion modules generate up to 6.86% higher power compared to PERC modules. It says the data has been verified by CPVT for tests conducted during the Q4 2023 at 2 testing bases in Hainan and Yinchuan.
According to the test report, the HJT Hyper-ion modules exhibited an average power generation increase of 3.40% compared to PERC modules at the Yinchuan testing base. At the Hainan testing base, the modules showed an average gain in power generation of 5.50%. The highest gain of 6.86% was observed at the Hainan base, when the average irradiance reached 3.44 kW/m2 in November. The company says this can potentially reduce the levelized cost of electricity (LCOE) by around 6.42%.
Recently, Risen Energy projected its FY2023 net profit to grow up to 79.95% (see China Solar PV News Snippets).
Sungrow to collaborate with 3 companies to establish a $138.9 million new energy fund: Solar PV inverter supplier Sungrow has announced its intention to jointly invest RMB 1 billion ($138.9 million) to establish a New Energy Multi-Strategy Industry Fund with Zhejiang Fuzhe Capitalm, Hangzhou Industrial Investment Co., Ltd., and Hefei Renfa New Energy Investment Fund. The share distribution among these four companies is 49%, 30%, 20%, and 1%, respectively. The fund will focus on investments in the upstream and downstream sectors of the new energy industry, including but not limited to photovoltaics, wind power application technologies, advanced energy storage, hydrogen technologies, carbon peak and carbon neutrality, and high-end intelligent manufacturing.
DMEGC Solar forecasts up to 15.02% increase in FY2023 net profits: Vertically integrated solar manufacturer DMEGC Solar has forecasted its FY2023 net profits to increase 5.44% to 15.02% year-over-year. In monetary terms, this translates into a range of RMB 1.76 billion ($245.05 million) to RMB 1.92 billion ($266.57 million). DMEGC Solar attributes this growth to the timely launch of TOPCon products, increased overseas PV market presence, and steady development in the magnetic materials segment.