JinkoSolar’s offshore solar partnership with CIMIC; Canadian Solar starts 5 GW ingot production under phase I at Xining; TCL Zhonghuan to invest RMB 1 billion more for G12 module project; Chint plans to invest in solar manufacturing in Yiwu.
JinkoSolar & CIMIC join hands: JinkoSolar has entered a strategic cooperation agreement with offshore equipment EPC company CIMIC Raffles to build offshore solar power projects. Both the companies plan to mutually develop offshore solar projects and deploy JinkoSolar’s n-type modules. Possible applications include floating solar, offshore wind-solar hybrid, and offshore solar desalination projects. In the future, they may also explore the possibilities for offshore solar-hydrogen power plants using the company’s Tiger Neo products. JinkoSolar did not share any more details about the partnership. The company will present about N-type Modules to Reduce System LCOE at the upcoming TaiyangNews Bifacial & Solar Trackers Virtual Conference on July 5/6. For Free Registration, click here.
Canadian Solar’s 5 GW ingot project starts: Of the 10 GW planned monocrystalline silicon ingot project the company plans to establish at Xining Economic and Technological Development Zone, Canadian Solar has officially started operations for 5 GW under phase I. This phase had been under construction since July 2021 and came online on June 29, 2022. Construction on phase II for 5 GW started in April 2022 and is scheduled to start commercial operations in October 2022. Once the entire 10 GW is fully ramped up, Canadian Solar expects the fab to produce 30,000 tons of monocrystalline silicon rods worth RMB 10 billion annually. The project is being executed by the company’s wholly-owned subsidiary Xining Canadian Solar Technology (see China PV News Snippets: Canadian Solar, GoodWe, Tongwei).
TCL Zhonghuan’s capital increase for subsidiary: TCL Zhonghuan says it plans to increase capital of its subsidiary Huansheng New Energy by RMB 1 billion to speed up the implementation of its planned G12 high efficiency shingled module project expansion. The proceeds will also help in technology upgrade, the company said in a stock exchange announcement. Huansheng will construct 3 GW annual capacity as Yixing module phase I with supporting facilities, to be followed by another 3 GW under phase II. After the capital increase, its total registered capital will go up to RMB 4.7 billion. Zhonghuan is not only one of the world leading solar wafer manufacturers, it also a major shareholder in cell/module manufacturer Maxeon.
Chint planning RMB 11.3 GW project in Yiwu: Chint Group has entered an arrangement to invest close to RMB 11.3 billion to manufacture solar PV cells, modules and also set up distributed power projects in Yiwu, Zhejiang. It signed an agreement for the same with the local administration recently, according to local media reports. Recently, the company said its subsidiary Chint New Energy will divest 100% stake in its solar PV cell and module production business to the parent Chint Group, citing elevated prices for solar raw materials and problems compounded by supply chain challenges (see Chint Solar To Offload Module Manufacturing).