Hangzhou First at TaiyangNews Virtual Conference; LONGi & Canadian Solar report FY2023 results; Arctech Solar to build mounting system fab in Saudi Arabia; Tongwei supplies 50 MW modules to Corey Solar; China seeks public opinion on green power certificate issuance.
Hangzhou First to present at TaiyangNews Virtual Conference: Stephen Tang, Senior Engineer at Hangzhou First, will be sharing his insights into the encapsulation materials for TOPCon modules at the TaiyangNews Virtual Conference on Cell & Module Production Equipment & Processing Materials.
This 2-day conference will be held on May 7 & 8, 2024, from 09:30 to 13:30 CEST. The Speakers will discuss updates related to module-level advancements alongside the established focus on cell-level innovations. For free registration, click here.
LONGi reports 44% YoY module shipment growth in 2023: Vertically integrated solar manufacturer LONGi has released its financial results for FY2023. The company reported revenues of RMB 129.498 billion ($17.986 billion), up 0.39% Year-over-Year (YoY). Its full-year net profit of RMB 10.751 billion ($1.493 billion) decreased 27.41% YoY. LONGi's silicon wafer shipments for the year totaled 125.42 GW, including 53.79 GW to external customers, up 47.45% YoY. The company sold 5.90 GW of cells externally, while its module shipments were up 44.40% YoY to 67.52 GW. The company targets to ship 135 GW of wafers and 90 to 100 GW of cells and modules combined for the full year of 2024.
LONGi Solar recently received the Top Brand PV Modules LATAM award from EUPD (see China Solar PV News Snippets).
Canadian Solar's FY2023 net profit up over 34% YoY: Solar PV manufacturer Canadian Solar has reported a 7.94% YoY increase in its revenues for FY2023, totaling RMB 51.310 billion ($7.129 billion). Its net profit of RMB 2.903 billion ($403.47 million) was up 34.61% YoY. The company's solar module shipments for the year were 30.7 GW, with energy storage products logging 1.102 GW.
The company's e-STORAGE division had approximately 63 GWh of energy storage system (ESS) orders as of the end of FY2023, with signed contracts worth $2.6 billion (RMB 18.827 billion), including long-term service agreements. The company projects its production capacity for ingots, wafers, cells, and modules to reach 50.4 GW, 50 GW, 55.7 GW, and 61 GW, respectively. On the ESS side, it plans to double its 10 GWh manufacturing capacity for SolBank to 20 GWh by the end of the year.
Arctech Solar to build 3 GW PV mounting system fab in Saudi Arabia: Arctech Solar has signed a land lease agreement with Saudi MODON, agreeing on the land use and construction of Arctech's Jeddah factory in Saudi Arabia. The Jeddah factory will cover a total area of approximately 97,000 sq. m. and, once complete, will become Arctech's second overseas production base following its Gujarat factory in India. The factory is planned to produce high-quality PV mounting systems with a capacity of 3 GW, aimed at supplying PV projects in the Middle East. In addition to local production, Arctech says that its global supply chain system could deliver up to 10 GW in the region.
In February, Arctech reported a 73.8% rise in revenues for FY2023 (see China Solar PV News Snippets).
Tongwei supplies 50 MW of solar modules to Mexico's Corey Solar: Tongwei Solar has signed a 50 MW solar module supply framework agreement with Corey Solar. Operating in Mexico, Corey Solar offers PV product sales, complete solutions, and integrated PV application and operation services. Tongwei states that this deal represents an important step in its expansion into the Latin American market.
China seeks public opinion on green power certificate issuance and trading rules: The National Energy Administration (NEA) has solicited public comments on the draft titled "Renewable Energy Green Power Certificate Issuance and Trading Rules." The document proposes that:
The draft will be open for comments from April 26, 2024 to May 25, 2024.
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