China PV News Snippets

SPIC has installed its bifacial IBC solar modules in project in Hong Kong; Jinko Power to transfer 44% equity of Luquan New Energy for RMB 19.4 million; GCL brings online 30,000 ton silicon project; Drinda to raise RMB 2.83 billion; Taiji Industry strikes deal with Daycare Photovoltaic.

SPIC's IBC modules in smart demon project: The State Power Investment Corporation (SPIC) has energized a 150 kW solar project for Siten Clean Energy Development Limited using its bifacial ANDROMEDA 2.0 IBC solar modules and SMA inverters. Calling it the 1^st integrated smart energy demonstration project in China, the Hengqin Integrated Smart Energy Project will feed electricity generated to the grid for local use. The project is located in Nam Cheong Street, Shek Kip Mei, Shamshuipo District of Hong Kong. SPIC said its subsidiary SPIC Solar is partnering with Siten Energy since 2021-end to promote IBC solar module use in Hong Kong and Macau.

Jinko Power to transfer 44% equity of Luquan New Energy: Clean energy provider Jinko Power announced that it plans to transfer 44% of its stake in Luquan New Energy to Jintai New Energy, a subsidiary indirectly controlled by Huadian Corporation. The transaction amount will be about RMB 19.4 million ($2.9 million), and will enable the company to focus more on the construction of photovoltaic projects.

GCL's 30,000 ton FBR silicon project online: GCL Technology has expanded its FBR granular silicon production capacity with 30,000 tons at its Xuzhou base. It says this is the world's single largest granular silicon R&D and manufacturing matrix to date. The company plans to also bring online its Leshan project in Sichuan as planned.

Drinda to enter photovoltaic track: Automotive instrument panel assemblies producer Drinda plans to raise RMB 2.83 billion ($0.42 billion) from no more than 35 specific targets. After deducting relevant issuance expenses, the raised funds will be used in this manner:

• RMB 1.5 billion ($0.22 billion) to acquire 49% equity of Jietai Technology
• RMB 500 million ($74.6 million) for high-efficiency N-type solar cell research and development pilot projects
• RMB 811 million ($121.05 million) for liquidity and repayment of bank borrowings

Earlier this year, Drinda announced plans to increase its subsidiary's capital (see China PV News Snippets)

Taiji Industry strikes deal with Daycare Photovoltaic: State holding enterprise Taiji Industry said in an announcement that its subsidiary, Information Industry Electronics Eleventh Design and Research Institute Technology Engineering has got into an agreement with Daycare Photovoltaic. As per the agreement, the subsidiary plans to purchase from Daycare:

• monocrystalline silicon photovoltaic modules worth RMB 10.8 million ($1.61 million),
• lightweight flexible monocrystalline silicon modules worth RMB 6.6 million ($0.99 million), and
• monocrystalline silicon photovoltaic modules for RMB 68.8 million ($10.27 million).

At the same time, both the companies have also signed an EPC contract for high-efficiency large-size module factory power engineering for RMB 6.7 million ($1 million).