China PV News Snippets

Shuangliang Eco-Energy wins RMB 123 million bid for polysilicon reduction furnace project; ST Zhongli transfers subsidiaries to Xinya Electronics; Gaoce to invest in 120 million km diamond wire project.

Shuangliang Eco-Energy wins polysilicon reduction furnace project: China headquartered solar PV production equipment maker Shuangliang Eco-Energy announced via WeChat that its holding subsidiary, Jiangsu Shuangliang New Energy Equipment, has won Qingdian Silicon Materials' RMB 123 million ($18.25 million) bid for a reduction furnace equipment procurement project. Qingdian Silicon Materials manufactures metal structure and non-metallic mineral products. Of the annual output of 200,000 tons of high-purity polysilicon, under phase I the target is for 50,000-ton polysilicon. Last month, Shuangliang Eco-Energy had sought to increase its loan amount for a 40 GW monocrystalline silicon wafer project by RMB 2 billion (see China PV News Snippets).

ST Zhongli selling non-PV subsidiaries: Solar module supplier ST Zhongli said that it plans to transfer its subsidiaries to manufacturer and seller of fine electronic wires, Xinya Electronics. Zhongli will be transferring 100% equity of Guangdong Zhongde and 30% equity of Cableplus Technologies to Xinya. The estimated value of the transaction will be about RMB 750 million ($111 million), including dividend. This move is aimed at enabling Zhongli to focus more on its photovoltaic business development.

Gaoce to invest RMB 666 million in diamond wire production expansion: In an announcement, wire cutting machine producer Gaoce said that it plans to get into an agreement with the People's Government of Huguan County for a 120 million km diamond wire project. The project is expected to be divided into two phases. The first phase, with an investment of RMB 666 million ($99 million), will focus on an annual production capacity of 40 million km of diamond wire. The construction period will stretch to about 12 months. While the next phase will produce 80 million km of diamond wire. Discussion about project details are still underway. Earlier this month, Gaoce had shared its aim to raise RMB 483 million for wafer production (see China PV News Snippets)