China PV News Snippets

• The polysilicon prices continued to rise, and among them monocrystalline re-injection material, monocrystalline dense material, monocrystalline cauliflower material transaction saw an increase of 13-14% in the average transaction price
• The first phase of Muguang complementary power generation project began construction in Qishan Township in Gansu Province
• Power supply manufacturer EAST Group expects net profit attributable to shareholders of the listed company for the first three quarters of 2021 to be between RMB 359 - 392 million
• Jolywood Solar announces renewal of its contract with global reinsurance provider company Munich Re
• The much-awaited TaiyangNews Virtual Conference on Inverters for Rooftop Solar 2021 is just one day away

Silicon prices continue to rise: Last week, polysilicon prices continued to rise for all sorts of qualities by 13-14% in the average transaction price, siliconchina.org reported on its website. The price of China's monocrystalline 're-injection' material ranged between RMB 260,000-273,000/ton ($40,389 – $42,409/t), and the average transaction price was at RMB 269,900/ton ($41,927.51/ton), an increase of 13.2%; while the 'monocrystalline dense material' price ranged between RMB 258,000-271,000/ton ($40,079 – $42,098/ton), and the average transaction price was at RMB 268,000/ton ($41,632/tom), an increase of 13.7%. Most of the silicon enterprises reportedly have already signed orders for October.

Construction of 600 MW PV power project Phase 1 begins in Gansu: The first phase of the Muguang power generation project began construction in Qishan Township in Gansu Province, news website PVMen.com reported. The 600 MW project is being developed by China Resources Power Ganqing Company with an investment of RMB 3 billion ($0.47 billion). The construction period is scheduled to last for a year and is expected to be grid-connected by end of June 2022. Once the project is completed, it will provide over 900 GWh of clean energy power annually.

EAST Group shares 2021 First Three Quarters Forecast: Power supply manufacturer EAST Group released a preview of its performance for the first three quarters of 2021. The Group is expecting that the net profit attributable to shareholders of the listed company for the first three quarters to be between RMB 359 – 392 million ($55.77-$60.90 million), an increase of 10% to 20% year-on-year. This hike is mainly due to the steady growth of the company's high-end power supply equipment and photovoltaic power generation business, as well as the results produced by the company's cost reduction and efficiency initiatives, it said.

Jolywood extends partnership with Munich Re: Bifacial solar cell and module manufacturer Jolywood Solar has announced the renewal of its contract with Munich Re, a global reinsurance provider company from Germany. Furthering this partnership with Munich Re will enable Jolywood to continue offering fortified insurance protection that features 12-year coverage for its products, materials and workmanship, as well as a 30-year linear performance warranty.