- Risen Energy to sell majority shares in Jiangsu Sveck New Materials to Shenzhen Gas Group and its subsidiaries
- Southwest Electric Power Design Institute to buy 1 GW of PV modules from GCL-SI
- Zhejiang New Energy Investment Group plans to establish joint venture with Zhejiang Energy International to expand renewable energy power generation projects
- Chint Holding subsidiary Zhejiang Chint Anneng Power System Engineering partners with governments of Qiyang City, Liancheng County and Linqing City to promote pilot development of 980 MW distributed rooftop PV
Risen sells stake in Sweck for RMB 1.8 bn: In an announcement, Chinese solar PV module producer Risen Energy revealed that it will be transferring the controlling interest in its holding’s subsidiary, Jiangsu Sveck New Materials, to Shenzhen Gas Group. Risen currently holds 194 million shares in one of China’s leading EVA solar module encapsulant manufacturers, Jiangsu Sveck New Materials. It plans to sell about 140 million shares, which accounts for 52.49% of the total share capital, to Shenzhen Gas Group for RMB 1.8 billion ($0.28 billion). In June 2021, Risen had sold 12.76% of shares of Jiangsu Jiujiu Technology Co., Ltd. for RMB 355 million ($54.89 million) (see China PV News Snippets: GCL New Energy, Tunghsu, Risen)
GCL & SWEPDI partner for 1 GW PV modules: Chinese solar PV cell and module manufacturer GCL System Integration Technology (GCL-SI) and Southwest Electric Power Design Institute (SWEPDI) signed a supply agreement for more than 1 GW of PV modules from September 2021 to December 30, 2022. All the products to be purchased by SWEPDI will be high-power PV modules with a rating of 530W or more, GCL-SI said.
Zhejiang to form RMB 204 mn JV to promote PV & wind power industries: With a view to expand renewable energy power generation projects, Zhejiang New Energy Investment Group plans to establish a joint venture company with Zhejiang Energy International, a Photovoltaic Network News report said. Zhejiang New Energy Investment will invest RMB 204 million ($31.47 million), accounting for 51% of the new company’s registered capital. Both Zhejiang New Energy Investment Group and Zhejiang Energy International are subsidiaries of China based Zhejiang Energy Group, which is mainly engaged in power supply construction and energy technology.
Chint subsidiary to develop 980 MW distributed rooftop PV: Smart energy solutions provider Chint Electric announced that its holding’s subsidiary Zhejiang Chint Anneng Power System Engineering has signed a cooperation agreement with the governments of Qiyang City, Liancheng County and Linqing City to promote the pilot development of distributed rooftop PV, with a total installed capacity of about 980 MW. Among other things, this agreement will see Chint develop household distributed power systems in villages with an installed capacity of 600 MW, and promoting household distributed power station business to the tune of 200 MW installed capacity.