Canadian Solar plans to build an independent ESS in Gansu; Hebei adjusts timeline for delayed solar and wind projects; Akcome projects a net loss for FY2023; HY Solar projects a decrease in FY 2023 net profits; Golden Solar forecasts net loss for FY2023.
Canadian Solar plans to build a 200 MW/800 MWh independent ESS in Gansu: Solar PV manufacturer Canadian Solar (CSI Solar) has released a PC tender for the 200 MW/800 MWh independent energy storage power station project in Jiuquan, Gansu Province. The tender aims to procure a 330kV booster station, a 330kV transmission line, along with the construction services for the project. CSI Solar will provide the energy storage equipment, with the other equipment, materials and services to be provided by the bidder. The tender opened for applications on February 6, 2024 and will be open till 5 p.m. on February 22.
Canadian Solar recently announced its intention to repurchase its shares (see China Solar PV News Snippets).
Hebei adjusts timeline for 10 GW of solar and wind power projects: The Hebei Province has announced the planned adjustments to the timelines of solar PV and wind power generation projects that were due by the end of 2023. The Hebei Provincial Development and Reform Commission considered the statistics on the construction progress of wind power and PV power generation projects that expired by the end of 2023 in various cities, and put forward disposal opinions on overdue projects that have not been completed. 350 MW of PV power generation projects are planned to be canceled, while 8.374 GW of PV and 1.706 GW of wind power projects are planned to be adjusted. Most of the proposed adjustments are to extend the grid connection time of the project to December 31, 2024.
Akcome projects net loss of up to RMB 740 million for FY2023: Solar cell and module maker Akcome has announced that it expects a net loss attributable to shareholders in the range of RMB 740 million ($102.81 million) to RMB 370 million ($51.41 million). The company attributes its losses to the downward price fluctuation in the PV industry chain, impairment losses on assets related to PERC cells and module production lines, and the impact of selling its power station business.
Recently, Akcome Technology announced that it had won the bid for the Ningxia Zhongwei PV project (see China Solar PV News Snippets).
HY Solar expects FY2023 net profits to decrease 73.62% to 75.93%: Vertically integrated solar manufacturer HY Solar has projected its net profit for FY2023 to range between RMB 730 million ($101.45 million) and RMB 800 million ($111.23 million). This range reflects a YoY decrease of 73.62% to 75.93%. The company attributes the decline to the fall in silicon wafer prices and the fact that the newly added production lines for silicon materials, cells, and modules are still in the production ramp-up phase, with full capacity yet to be realized.
Golden Solar forecasts up RMB 385 million net loss for FY 2023: Solar PV manufacturer Golden Solar has projected FY 2023 net loss attributable to shareholders in the range of RMB 385 million ($53.49 million) to RMB 284 million ($39.46 million). The company cites the downward trend in PV product prices for the net loss. Additionally, the company said that the production lines at its Jiuquan base are in the debugging and capacity ramp-up stage, leading to higher operating costs, collectively resulting in losses for FY2023.