LONGi to supply Hi-MO 5 bifacial modules to SEPCOIII; Hunan Yujing Machinery to launch a RMB 360 million JV; Baijiashi’s PV encapsulation film project in Vietnam begins; Canadian Solar enters into an agreement with Matrix Renewables
LONGi to supply Hi-MO 5 modules to Red Sea Project: In an announcement, Chinese vertically integrated solar PV company LONGi said that it has won a contract to supply 406 MW of its Hi-MO 5 bifacial modules to SEPCOIII Electric Power Construction for Saudi Arabia’s Red Sea Project. The project will be completely powered by renewable energy, which will be generated via solar panels and wind turbines to meet the initial demand of 210 MW, with further expansion planned. The Red Sea Project is part of the Saudi Vision 2030.
Hunan Yujing Machinery & Shuangliang Eco-Energy launch JV: Technology-based enterprise Hunan Yujing Machinery announced that it plans to jointly invest with Jiangsu Shuangliang Eco-Energy and Jiangsu Yongxin New Materials in a holding subsidiary called Jiangsu Shuangjing New Energy Technology Co., Ltd. The registered capital of the new JV would be RMB 360 million ($56.51 million) and it will be the operating entity of the company’s future solar photovoltaic silicon wafer slicing processing and sales projects in Yancheng City.
Baijiashi’s Vietnam encapsulation film production project launched: Polymer materials company Changzhou Baijiashi Film Technology announced that its photovoltaic encapsulation film project in Vietnam, with an annual output of 12 GW, has begun. The first phase of the Vietnamese manufacturing project is expected to be completed and put into production by July 2022. Earlier this year, the company had invested RMB 800 million in a 20 GW encapsulation film production base project in Laian (see China PV News Snippets)
Canadian Solar and Matrix Renewables enter into transaction: Canada headquartered Chinese solar power company Canadian Solar said that it has entered into an agreement with the renewable energy platform Matrix Renewables, through its wholly-owned US subsidiary Recurrent Energy, LLC. As per the agreement, Matrix Renewables will acquire the Gaskell West 2 and 3 project of 105 MWac solar and 80 MWh energy storage. The Gaskell West 2 and 3 project is located in Kern County, California, and is fully contracted to hold 5 long term power purchase agreements with cities and utilities in California. The solar plus storage project is expected to reach commercial operation by late 2022, and will generate enough clean and low-cost electricity to power approximately 16,800 California homes and displace approximately 178,500 metric tons of carbon emissions each year. This hybrid project marks the first transaction between Recurrent Energy and Matrix Renewables.