Guangdong Electric to launch RMB 2.2 billion subsidiary; TBEA expects RMB 3.9 to 4.4 bn profit in Q1/2022; Golden Glass’ new product goes through optimization; GoodWe subsidiary to carry out financial leasing business; Xinyi Electricity to buy RMB 60.5 million PV Film Production Lines.
Guangdong Electric Power to launch subsidiary: Guangdong Electric Power Development Co., Ltd. said that it will establish a wholly-owned company Tumshuke Yudean Hanhai New Energy Co., Ltd., and invest in the construction of a 400 MW photovoltaic power generation project of the Xinjiang Production and Construction Corps. The total investment of the project is RMB 2.2 billion ($0.35 billion), the company added.
TBEA registers positive growth in Q1/2022: Solar PV inverter company TBEA has announced the pre-increase of its performance for the first quarter of 2022. The company expects to achieve a net profit of RMB 3.9 billion to RMB 4.4 billion ($0.61 billion to $0.69 billion) in the first quarter of 2022, a year-on-year increase of 69%-90%. Increased market development efforts and strong operation management, are cited as the reason for this growth. In January this year, TBEA had talked about its plans to invest RMB 1.1 billion for new energy power station (see China PV News Snippets)
Golden Glass’s HJT cells touch 24.28% efficiency: Supplier of high-end special building glass Golden Glass’ new product, 210 heterojunction cell, has completed the first round of optimization of the basic parameters of the amorphous process, a media report said. The product has attained the highest conversion efficiency of 24.28%, basically reaching the initial target of 24.3%, thus ensuring the first batch of customer orders to be released in April can be delivered on time. In March this year, Golden Glass’ 210 large-size heterojunction cells were successfully produced (see China PV News Snippets)
GoodWe subsidiary to develop distributed PV business: In an announcement, solar inverter manufacturer GoodWe said that its subsidiary Yude New Energy plans to cooperate with financial institutions to carry out financial leasing business. This is being done to promote the development of distributed photovoltaic business. In this business, Yude New Energy will sell distributed photovoltaic power generation systems to financial institutions, and financial institutions, in turn, will carry out the financial leasing business with end users. The guarantee amount is expected to be no more than RMB 200 million, which is subject to the signing of relevant agreements. Yude New Energy and financial institutions have set strict access conditions for the lessee to ensure the safety of the leased assets, where the lessee uses the electricity fee income generated by the grid-connected photovoltaic power station as the main source of repayment.
Xinyi Electricity buys RMB 60.5 mn PV film production line: Producer and seller of electric storage products, Xinyi Electricity Storage, has agreed to purchase PV Film Production Lines worth RMB 60.5 million ($ 9.50 million) from Suzhou Kingwell, a media report said. The Production Lines will be used to produce thermosetting films that can be used as encapsulation materials for solar modules in China and Malaysia.