Zhonghong Energy invests RMB 5 billion for 3 GW solar cell facility; GCL operating income at RMB 15.3 billion; Jinko Power to invest in rooftop PV project; GD Power releases semi-annual results.
Zhonghong Energy signs 3 GW solar cell and module deal: Taizhou Huangyan District Government held a centralized signing ceremony, during which 21 project deals were signed. These deals span across various fields such as digital economy, new energy, industrial design, intelligent manufacturing, and the like. Among this, Zhonghong Energy signed up for a 3 GW solar cell, module and semiconductors (silicon carbide) facility with an investment of RMB 5 billion ($0.72 billion). Spread across 33.3 hectares, the facility will be constructed in two phases. The first phase will cover an area of 20 hectares, with an investment of RMB 2 billion ($0.29 billion), mainly consisting of industrial smart 5G plants, the capacity of which includes 3 GW solar modules, 360 million monocrystalline silicon wafers and 3 GW HJT cells. The second phase will be mainly used for manufacturing semiconductors (silicon carbide).
GCL Group releases 2022 semi-annual report: Releasing its 2022 semi-annual report, new energy company GCL Group said that it has achieved an operating income of RMB 15.3 billion ($2.2 billion), a year-on-year increase of 74.1%; and a net profit of RMB 6.9 billion ($1 billion), a year-on-year increase of 187.1%. The company added that during the reporting period, its photovoltaic material business was benefited by the increase in the volume and price of silicon material products and silicon wafer products, and did very well achieving a revenue of RMB 14.6 billion ($2.1 billion), a year-on-year rise of 116.6%. This was the main reason behind the growth of company’s operating income.
Jinko Power to build rooftop distributed PV project: Clean energy supplier and service provider Jinko Power released an announcement stating that it plans to invest in the construction of seven rooftop distributed photovoltaic power stations and two energy storage projects in affiliation with JinkoSolar subsidiaries. The raw materials required for building the project will be purchased from JinkoSolar; and the amount of electricity generated/discharged by the project will be preferentially sold to JinkoSolar and its subsidiaries for use.
GD Power revenue at RMB 91.1 billion in H1 2022: Energy power generation business integration platform company GD Power recently released its 2022 semi-annual report. As per the report, the company has achieved a total revenue of RMB 91.1 billion ($13.2 billion), up 20.03% year on year. The net profit attributable to shareholders touched RMB 2.3 million ($0.33 million). As of June 30 2022, the company had added 1533.3 MW of new energy, out of which 1,144.6 MW was of solar power. In the first half of this year, the accumulated power generation is 215.531 billion kWh, up 0.63% year on year. The total on-grid electricity is 204.762 billion kWh, up 0.68% year on year. Out of this, solar power is about 685 million kWh.