China PV News Snippets

Yongxiang Energy's 120,000-ton silicon project begins in Sichuan; JinkoSolar's 8 GW N-type cell project put into production; Suzhou Maxwell repurchases shares; Jietai Technology become wholly-owned subsidiary of Drinda.

Phase 1 of Yongxiang Energy silicon project begins: Integrated solar PV manufacturer from China, Tongwei announced that the first phase of Yongxiang Energy Technology's 120,000-ton high-purity crystalline silicon project has begun in Sichuan. This project, the company said, plays a critical role in Tongwei New Energy's medium-term development strategy. For Yongxiang Energy, who is a PV equipment manufacturer, this signifies yet another journey in the crystalline silicon photovoltaics space. Last year Yongxiang New Energy Project produced its first batch of silicon (see China PV News Snippets). Also, last year Sichuan Yongxiang Energy Technology Co., Ltd., the polysilicon production joint venture between Tongwei, JYT Corporation and JinkoSolar had raised RMB 3 billion from the trio, making them 51%, 34% and 15% stakeholders in the project company, respectively (see Tongwei, JinkoSolar & JYT Corporation invest RMB 3 Billion in JV). Meanwhile last month, Tongwei Solar's PV cells global shipments had exceeded 100 GW (see China PV News Snippets)

Suzhou Maxwell repurchases shares for RMB 163 million: Solar cell production equipment maker Suzhou Maxwell Technologies said that it has repurchased 503,300 shares of the company with the minimum transaction price being RMB 291.5 ($43.16) per share, and the highest being RMB 345 ($51.08) per share. The company repurchased through centralized bidding transactions, and the amount paid in total was RMB 163 million ($24.14 million). These shares now account for 0.29% of the company's total share capital. Earlier this year, Suzhou Maxwell had betted on light conversion film to improve power output of HJT solar modules by more than 5W (see New High Efficiency HJT Solar Module Technology)

Phase II of JinkoSolar's 8 GW N-type cell project put into production: Module supplier JinkoSolar announced that the commissioning ceremony of Phase II of its 8 GW high-efficiency N-type cell project was successfully held in Anhui. The annual output of the project is 16 GW. In January this year, the company had announced the production of its high-efficiency N-type TOPCon cells at Anhui factory (see China PV News Snippets). And recently the company made it to MIT's 50 smartest companies list (see China PV News Snippets)

Drinda completes Jietai Technology acquisition: Automotive instrument panel assemblies producer Drinda stated in a release that it has completed the acquisition of 49% of Jietai Technology. Drinda had earlier announced its plans to increase the capital of Jietai Technology (see China PV News Snippets). Now with this acquisition, Jietai Technology becomes a wholly-owned subsidiary of Drinda. Here are the details of the acquisition:

• 97% equity of Jietai Technology held by Hongfu Photovoltaic was transferred for RMB 1.05 billion ($0.16 billion)
• 03% equity of Jietai Technology held by Supor Group was transferred for RMB 466 million ($69 million)