China PV News Snippets

Guangdong Electric to invest in 7 GW PV project; Jp Solar to build 12 GW high-efficiency monocrystalline silicon rod and wafer project; CGN adds solar power plants; Jolywood investment agreement for smart cell factory; China Shuifa 2021 solar EPC revenues drop

Guangdong Electric to add 14 GW of new energy installed capacity: Disclosing investor relations updates, Guangdong Electric Power Development said that it plans to add 14 GW of new installed energy capacity during the 14th Five-Year Plan period. Out of this, photovoltaics will be about 7 GW, and another 7 GW will be wind power. The above-mentioned planned installed capacity and power generation type will be determined according to the actual situation of project approval, and there may be room for adjustments.

Jp Solar to invest in 12 GW wafer project: The People's Government of Wuerhe in Karamay city and producer of solar monocrystalline silicon wafers, Jp Solar, have signed an investment agreement, according to local media reports. As per the agreement, Jp Solar will invest in the construction of a 12 GW  monocrystalline silicon rod and wafer manufacturing project. The project will be implemented in two phases: the first phase with an investment of about RMB 1.5 billion ($0.24 billion) will focus on a 6 GW monocrystal ingots capacity. While, the second phase with an investment of RMB 2 billion ($0.31 billion) will see the construction of a 6 GW monocrystal pull rod and silicon wafer project.

CGN solar additions in 2021: In 2021, the China General Nuclear Power Corporation (CGN) commissioned 48.2 GW of attributable installed capacity of solar projects, the power company said in an announcement. It contributed to an increase in revenue and profit; better solar resources led to higher average utilization hours from 1,348 hours to 1,440 hours, as well as the increase in power generation.

Jolywood to raise RMB 2.5 billion: Bifacial solar cell/module manufacturer Jolywood announced plans to raise RMB 2.5 billion ($0.39 billion) for its smart factory project (Phase I), with an annual output of 16 GW high-efficiency monocrystalline cells. Once the project reaches production, it will add 8 GW of N-type mono cell production capacity, further consolidating the company's advantages in the N-type monocrystalline cell market, the company said. Earlier this March, Jolywood had announced to expand into silicon manufacturing and invest RMB 14 billion in Gujiao (see China PV News Snippets)

China Shuifa 2021 solar EPC business down: Announcing its 2021 results, new energy company, China Shuifa Singyes Energy Holding Limited, said that:

• Group revenue increased by RMB 924.9 million ($145.34 million) or 16.6%,  from RMB 5,578 million ($876 million) in 2020 to RMB 6,503 million ($1,022 million) in 2021
• The gross profit increased by RMB 160.6 million ($25.24 million) or 17.6%, i.e., from RMB 914.4 million ($143.69 million) in 2020 to RMB 1,075 million ($168.93 million) in 2021
• the solar EPC business dropped from RMB 1,192 million ($187.31 million) in 2020 to RMB 357.2 million ($56 million) in 2021