China’s Risen Energy Scores Well In H1/2023

• Risen Energy's operating income in H1/2023 increased to RMB 17.6 billion, up around 40% YoY 
• Solar cells and modules business revenues of RMB 13.8 billion accounted for 78.46% of operating revenues  
• Total annual module production capacity was 25 GW with another 35 GW cell and module capacity under construction  

Solar cell and modules producer, that's now also getting serious about energy storage, Risen Energy had a strong 1st half in 2023 with its total operating income improving almost 40% annually to RMB 17.6 billion ($2.4 billion), and net profit up 71% to RMB 861 million ($118 million).   

Its main business of solar cells and modules locked in revenues of RMB 13.8 billion ($1.9 billion) with an jump of 40.2% YoY, accounting for 78.46% of the operating revenue. The energy storage business segment, that also includes auxiliary PV products, brought in RMB 1.6 billion ($219 million). The latter was an improvement of over 133% compared to the same period last year and represented 9.10% of the total operating revenue for H1/2023. 

Its EPC and transfer income from solar power plants went up 231% to RMB 1.07 billion ($146 million), accounting for 6.1% of the total operating income during the reporting period.  

At the end of June 2023, Risen's annual production capacity of solar PV modules reached 25 GW spread mainly across various Chinese provinces and also in Malaysia, according to its H1/2023 financial report. Other under construction projects include:  

• 5 GW n-type ultra-low carbon high-efficiency heterojunction cell and 10 GW high-efficiency solar module project in Zhejiang Ninghai 
• 4 GW high-efficiency solar cell and 6 GW high-efficiency module capacity in Sujintan, and  
• 10 GW high-efficiency solar cell project in Anhui Chuzhou.  

Risen Energy is one among 6 solar PV manufacturers to have recently announced an agreement over using a standardized silicon wafer size of 191.X mm (see Silicon Wafer Size Standardization Update).