China PV News Snippets

Construction begins for Henan Electric 1 GW PV project in Xinjiang; JinkoSolar to expand production capacity by issuing RMB 10 billion convertible bonds; Cybrid announces Q2/2022 financial results; Phase 1 of Qinghai Lihao silicon project commissioned.

Henan Electric begins 1 GW PV project construction: A WeChat communication said that State Power Investment Group Henan Electric Power, a wholly-owned subsidiary of the State Power Investment Group Corporation (SPIC), has held the groundbreaking ceremony for its 1 GW PV and solar thermal integrated project in Xinjiang. The project will include building a 900 MW photovoltaic power generation system and a 100 MW solar thermal power generation system, and also two 220 KV booster stations. The total investment of the project is about RMB 6 billion ($0.89 billion). The project adopts renewable energy power generation technology and combines PV and solar thermal molten salt energy storage. On completion, the project will save about 660,000 tons of standard coal and reduce carbon dioxide emissions by about 1.58 million tons each year. The expected average annual on-grid electricity generated will be about 2 billion kWh. This is one of the first major solar projects being developed by SPIC Henan Electric Power Co., Ltd. in Xinjiang.

JinkoSolar to issue RMB 10 bn convertible bonds: Module supplier JinkoSolar released its plan to issue about RMB 10 billion ($1.48 billion) convertible bonds. This move is mainly to increase the production capacity, and here is how the company plans to use the funds:

• RMB 4.1 billion ($0.61 billion) to be used towards 11 GW high-efficiency cell production line
• RMB 700 million ($103.6 million) to be used towards 8 GW high-automation photovoltaic module production line
• RMB 600 million ($88.8 million) to be used for the first phase of 8 GW high-automation module project in Shangrao City
• RMB 1.6 billion ($0.24 billion) to be used towards 5 GW photovoltaic modules and 5 GW solar cell production line projects
• RMB 3 billion ($0.44 billion) to be used to supplement working capital

Cybrid releases financial data for Q2/2022: In an announcement, leading solar backsheets and encapsulant manufacturer Cybrid Technologies released the main operating data for the second quarter of 2022. During the period, the solar encapsulation film business resulted in an operating income of RMB 619 million ($91.6 million) while the solar backsheet generated an operating income of RMB 422 million ($62.4 million). Also in the second quarter this year, the average sales unit price of solar encapsulation film was priced at RMB 14.4/m2($2.13/m2), a year-on-year increase of 22.7%; and the average sales unit price of solar backsheet was priced at RMB 11.86/sm2 ($1.75/m2), a year-on-year increase of 14.7%.

Qinghai Lihao holds commissioning and commencing ceremonies for silicon project: High-purity crystalline silicon and semiconductor materials company, Qinghai Lihao, said via WeChat that the commissioning ceremony of Phase I of its high-purity crystalline silicon project and the commencement ceremony of Phase II of its project were held in Xining Development Zone. Spread across 2,600 mu, the project has an investment of about RMB 18 billion ($2.6 billion) and will be constructed in 3 phases to produce an annual output of 200,000 tons. On completion, the project is expected to achieve an annual output value of about RMB 20 billion ($2.96 billion) and a profit and tax of RMB 5 billion ($0.74 billion).