Tongwei at TaiyangNews Solar & Sustainability 2024 Virtual Conference Tomorrow
Minglan Peng, ESG Manager at Tongwei Solar, will be taking part in the TaiyangNews Solar & Sustainability 2024 Virtual Conference tomorrow, August 27, 2024. She will be speaking on the topic: Together to Win: Tongwei’s Journey Towards Sustainable Development.
The 1-day conference will look into the main themes being pursued in the photovoltaic (PV) sector – from supply chain transparency, carbon footprint reduction in manufacturing, sustainable system operations and how to deal with solar products at the end of their long service life.
Click here to register for free.
Huasun on BNEF PV Module Maker Tier 1 List for Q3 2024 with All-Heterojunction Projects
Heterojunction (HJT) module manufacturer Huasun Energy has been included in Bloomberg New Energy Finance's (BNEF) PV Module Maker Tier 1 List for Q3 2024. The company says it has been recognized for its high-efficiency HJT products, strong brand presence, and financial stability. It said further that the inclusion reflects its leadership in the global solar market.
The BNEF Tier 1 list is a key industry benchmark, evaluating PV module manufacturers based on product quality, eligibility for government project bids, and the ability to secure non-recourse financing. Huasun says that its consistent presence on the list highlights its advancements in HJT technology, with products like the Himalaya G12-132 module, and its global deployment of HJT products across diverse applications.
Huasun Energy was recently recognized as one of the most promising renewable energy companies in China in the Hurun China Renewable Energy Companies with Potential 2024 list (see China Solar PV News Snippets).
Sungrow's H1 2024 net profit up about 14%
Solar inverter supplier Sungrow has reported that its revenue for the first half of 2024 increased 8.38% year-over-year to RMB 31.03 billion ($4.33 billion). The company also reported a net profit of RMB 4.96 billion ($691 million) for the period, up 13.89% year-on-year. The inverter segment generated revenue of RMB 13.09 billion ($1.83 billion), accounting for about 42% of the total revenue, growing 12.63% YoY. The new energy investment and development segment saw an 18.45% increase in revenue, reaching RMB 8.95 billion ($1.25 billion), contributing approximately 29% of total revenue. In contrast, the company’s energy storage systems segment revenue declined 8.30% YoY to RMB 7.82 billion ($1.09 billion), accounting for about 25% of total revenue.
Sungrow also highlighted some major orders secured in H1 2024, including a 3.5 GW solar and storage supply agreement with Thailand's Gulf Energy, an off-grid project for the Amaala luxury resort in Saudi Arabia (165 MW of solar inverters and 160 MW/760 MWh of energy storage systems), a 7.8 GWh energy storage project in the Middle East with Algihaz, and an 880 MWh independent energy storage station in Latin America with Atlas.
Sungrow showcased its latest offerings at Intersolar Europe 2024 (see TaiyangNews’ coverage here).
DAS Solar included in BNEF Tier 1 PV Module Maker list
Solar cell and module manufacturer DAS Solar has been included in BloombergNEF's Tier 1 PV Module Maker list for Q3 2024. The company says that this is a recognition of its progress in n-type technology, product performance, and financial stability. DAS Solar says that its work in TOPCon technology has led to a mass production efficiency of 26.6%, which enabled it to earn an inclusion in the BNEF list. The company said that it is also focused on sustainable manufacturing practices and has expanded its presence globally, with operations in Europe, Asia-Pacific, and Oceania.
Earlier this month, DAS Solar terminated its initial public offering (IPO) on the ChiNext board of the Shenzhen Stock Exchange (see China Solar PV News Snippets).
TCL TZE's H1 2024 net profit plummets by 166%
n-type solar wafer and module manufacturer TCL TZE has reported a significant drop in its financial performance for the first half of 2024. The company reported revenues of RMB 16.21 billion ($2.26 billion) for the period, down 53.54% YoY, and a net operating cash flow (OCF) of RMB 128 million ($18 million), down 95.52% YoY. Its net loss of RMB 3.18 billion ($443 million) for the period was a YoY decline of 165.63%.
The company’s photovoltaic silicon wafer business reported revenues of RMB 10.43 billion ($1.45 billion), down 61.31% YoY, accounting for 64% of total revenue. Revenue from solar modules, representing 17% of total revenues, was down 46.95% YoY to RMB 2.76 billion ($385 million). TCL TZE attributed the poor performance to factors including market price drops due to supply-demand imbalances, weak competitiveness in its solar module business, and the underperformance of its affiliate, Maxeon.
Operationally, TCL TZE reported that its n-type product achieved industry-leading monthly output per unit by about 12.3% and output per kilogram by about 1.15 pieces. With higher unit depreciation, the company's total cost was about RMB 0.033/W lower than the next best competitor. As of the end of June, TCL TZE's annual monocrystalline silicon wafer capacity was 190 GW, with a shingled module capacity of 22 GW. The company shipped approximately 62 GW of wafers, increasing 18.3% YoY and claiming a 23.5% market share, the highest in the industry. TCL TZE also announced a collaboration with RELC, a subsidiary of the Saudi Public Investment Fund (PIF), and Vision Industries to establish a 20 GW crystalline wafer factory, the largest overseas facility of its kind, enhancing its global competitiveness.
DMEGC’s H1 2024 solar product shipments up 78%
Vertically integrated solar module manufacturer DMEGC has released its H1 2024 financial results, reporting revenues of RMB 9.57 billion ($1.33 billion) for the period, which was down 6.62% YoY. The company’s net profits of RMB 639 million ($89 million) were down 47.29% YoY. While the company’s solar PV segment revenue was down 13.25% YoY at RMB 5.90 billion ($822 million), its product shipments were up 77.87% YoY at 8.1 GW.
The company claimed it had established a professional operational framework for large-scale projects, distributed projects (including energy storage), EPC construction, and operations and maintenance. DMEGC reported that it had over 600 MW of large-scale centralized projects under construction, more than 50 MW of EPC projects, and over 1 GW of reserve power station projects in H1 2024. As of June 2024, its annual production capacity totaled 14 GW of solar cells and 12 GW of modules, which the company says ranks 9th among solar module manufacturers globally in the 2023 Wood Mackenzie report, and among the top 10 in global module shipments according to InfoLink Consulting.
Guangzhou Development announces winning candidates for 2.4 GW n-type module tender
Guangzhou Development, a Chinese energy project developer, has announced the candidates for its 2024-2025 centralized procurement of solar modules. The 2.4 GW tender was divided into 3 sections of 800 MW each. JinkoSolar and Astronergy were the joint winners of the first section for n-type single-glass modules, with respective bids of RMB 0.755/W ($0.1060/W) and RMB 0.777/W ($0.1091/W). Huansheng Solar, a TCL TZE subsidiary, was the winner for the second section for 800 MW of n-type bifacial double-glass modules, bidding the lowest price of all candidates at RMB 0.718/W ($0.1009/W). With a bid of RMB 0.755/W ($0.1060/W), Trina Solar emerged as the winner in the third section for n-type bifacial modules of unspecified type.