- Hengdian Group DMEGC Magnetics, Jiangsu Linyang New Energy Technology, and Sihong Kaiyuan Investment have joined hands to build a 2 GW PV production line
- Sichuan Hebang Group invests RMB 6.2 billion ($.95 billion) in a production line of photovoltaic materials and solar modules
- LONGi shareholder Li Chunan intends to transfer his 226 million shares to Hillhouse Capital for RMB 15.8 billion ($2.42 billion)
- Construction has officially begun at LONGi's 1 GW high-efficiency solar module manufacturing base in Qinghai
- Almaden's subsidiary Ningbo Hongxin intends to transfer 100% equity of four companies to China Nuclear Shandong Energy for RMB 161 million ($24.61 million)
Hengdian & partners to build 2 GW PV production module line: In an announcement, magnetic material manufacturer and module PV maker Hengdian Group DMEGC Magnetics Co., Ltd said that it is joining hands with Jiangsu Linyang New Energy Technology Co., Ltd., a wholly-owned subsidiary of Linyang Energy; and Sihong Kaiyuan Investment Co., Ltd., a state-owned company under the Management Committee of Jiangsu Sihong Economic Development Zone. The three companies together want to build a 2 GW high-efficiency module production line with an estimated investment of RMB 1 billion ($.15 billion). While Hengdian DMC will be the main partner with 70% holdings, Linyang Energy and Kaiyuan Investment will hold 20% and 10% respectively. The project is expected to be completed and put into production within 12 months from the start date.
Hebang invests RMB 6.2 bn in PV module project: Sichuan Hebang Group has invested RMB 6.2 billion ($.95 billion) in a production line of photovoltaic materials and PV modules, according to news agency Sohu.com. The capacity of the PV module production line is expected to be 8 GW. Located in Jiangjin Baisha Industrial Park, the project is expected to achieve an output value of over RMB 14.3 billion ($2.19 billion) once it is fully operational.
Hillhouse Capital to acquire 6% stake in LONGi for RMB 15.8 bn: Chinese vertically integrated solar PV company LONGi has issued a reminder announcement on the proposed transfer of shares by shareholders, and for changes in the shareholders’ equity, according to Polaris Solar Photovoltaic Network. LONGi shareholder Li Chunan intends to transfer his 226 million shares, accounting for 6% of the company’s equity, to Hillhouse Capital by way of agreement transfer for a total amount of RMB 15.8 billion ($2.42 billion).
Construction begins at LONGi Qinghai 1 GW PV module manufacturing base: The construction has officially begun at LONGi’s 1 GW high-efficiency photovoltaic monocrystalline module manufacturing base in Qinghai, as per a report from PVTime. About RMB 1 billion ($0.15 billion) has been invested on the manufacturing base, which, once completed and production begins, is expected to generate an annual output value of RMB 1.7 billion ($0.26 billion).
Almaden plans to sell PV power plant assets for RMB 161 mn: Solar glass manufacturer Changzhou Almaden Co., Ltd issued an announcement that the company’s subsidiary Ningbo Hongxin intends to transfer 100% equity of four companies – Xuzhou Fengsheng New Energy Co., Ltd; Peixian Weikete Solar Technology Development Co., Ltd; Fengxian Yaohui New Energy Co., Ltd; and Fengxian Richang Solar Power Co., Ltd - to China Nuclear Shandong Energy Co., Ltd. Estimated to be a transaction of about RMB 161 million ($24.61 million), this move is intended to improve the overall operating efficiency of the company’s PV business, reduce its debt ratio, and increase asset liquidity.