JA Solar to build 5 GW fab in Inner Mongolia; DMEGC Solar forecasts 2024 n-type shipments surpassing 80%; Seraphim starts construction on 10 GW module fab; TBEA's 2023 installations hit 2.19 GW; SPS completes Series A financing.
JA Solar to build 5 GW solar module fab in Inner Mongolia: JA Solar has signed an agreement to build a 5 GW solar module manufacturing facility in Bayan Nur, Inner Mongolia. JA Solar will collaborate with Inner Mongolia Naoer Energy Development Co., Ltd. in this joint venture. The facility is planned for a total investment of RMB 1.4 billion ($194.44 million) and will also involve the construction of supporting facilities. Once completed, it is expected to generate RMB 5 billion ($694.44 million) in revenues.
JA Solar recently released long-term test results from its demonstration plant in Hainan that showed that its n-type modules delivered a 3.5% gain in electricity over p-type modules (see China Solar PV News Snippets).
DMEGC Solar forecasts n-type shipments to exceed 80% in 2024: Vertically integrated solar module manufacturer DMEGC Solar forecasts a quarter-over-quarter (QoQ) increase of over 20% in photovoltaic (PV) product shipments for Q1 2024. It expects slightly higher average selling prices than the industry since a higher proportion of its shipments are to the distributed market. It forecasts n-type product shipments to exceed 80% of the targeted total PV product shipments of 15 GW in 2024. The European market is expected to account for nearly half of these shipments, with the Chinese market accounting for one-third, Japan and Korea about 10%, and the US and other markets about 10%. In terms of prices and profits, the highest can be seen in the US market, followed by Japan and Europe.
Seraphim starts construction on 10 GW solar module fab: Seraphim has announced that it has started building its 10 GW solar module manufacturing facility in Huadu District, Guangzhou. To be constructed in 2 phases, the facility involves a total investment of about RMB 6 billion ($833.33 million). With construction planned to start in June this year, it is expected to hit trial production in December 2025 and full production in 2026. Once operational, the project is expected to generate about RMB 10 billion ($1.39 billion) in annual revenues.
In February, Seraphim announced that it had received the 1st batch of equipment for its TOPCon cell fab in Yingshang, Anhui (see China Solar PV News Snippets).
TBEA's renewable energy installations hit 2.19 GW in 2023: Polysilicon and solar inverter manufacturer TBEA has reported FY2023 revenues of RMB 98.123 billion ($13.62 billion), an increase of 1.79% year-on-year (YoY). The company's net profit was RMB 10.703 billion ($1.49 billion), down 32.75% YoY. For the year, the company sold 202,900 tons of polysilicon and completed 2.19 GW of wind and PV project installations. The company said that its polysilicon production capacity reached 300,000 tons/year by the end of 2023. It also reported that it has connected 3.41 GW to the grid cumulatively.
SPS completes Series A financing: Slit coating equipment developer and manufacturer Shanghai Precision Systems, Inc. (SPS) has announced that it has completed Series A financing for an undisclosed amount. The company says it has 5 of the 6 perovskite pilot lines in China use SPS' slit coating technology, with the remaining one using Japan's Toray solution. It claims that it is part of the supply chain in nearly 20 perovskite and PV companies, including GCL Optoelectronics.