Chinese solar cell and module producer Risen Energy increased its annual solar module shipments in 2022 by over 66% to 13.5 GW with 60% of these or 8.1 GW going to overseas markets, contributing to the company's operating income growing 56.05% to RMB 29.38 billion for the year.
Risen announced most takers of its overseas module sales last year were the markets of Brazil, Australia, Chile, Poland and Denmark.
Its net profit of RMB 945 million was an annual jump of 2,332.31% for which the company attributes strong global demand for solar modules, and increased sales thanks to enhanced production capacity.
In 2022, Risen added 3 GW of high efficiency solar cell and module production capacity in Malaysia and another 3 GW in Baotou, Inner Mongolia in China.
The Chinese company was operating a total module production capacity of 25 GW, mainly spread across its locations in China's Ningbo, Zhejiang, Jintan, Jiangsu, Yiwu, Zhejiang, Chuzhou, Anhui, and Malaysia. Expansion activity is on track with a 5 GW n-type heterojunction cell and 10 GW high efficiency module project coming up in Zhejiang Ninghai.
Another 4 GW high-efficiency solar and 6 GW module project in Jiangsu Jintan and 10 GW cell project in Anhui Chuzhou are progressing in an orderly manner, it added.
At the end of 2021, Risen Energy had an annual module production capacity of 19.1 GW (see Risen Energy Shipped 8.1 GW Modules In 2021).
Going forward, Risen said it will increase the proportion of self-produced solar cells to ensure stable and sustainable module supply chain.
Risen Energy's C&I Sales Manager Stacy Si will be attending TaiyangNews Distributed Solar & Storage Virtual Conference on April 25, 2023 to discuss PV and commercial and industrial energy storage applications. Tune in by registering free here.
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