25 GW silicon facility of Zhongqi Jiangsu begins construction; Seraphim signs 5 GW cell deal; Shaanxi Coal invests in monocrystalline; Datang procurement partners shortlisted; GCL New Energy releases H1 2022 report.
Zhongqi Jiangsu 25 GW wafer facility construction begins: Power company Zhongqi Jiangsu Solar Technology said that the groundbreaking ceremony for its 25 GW monocrystalline silicon wafer facility was held recently. Located in Suqian Economic and Technological Development Zone, the facility will be built in 3 phases. In the first phase, 5 GW silicon wafers will be produced, while in the second and third phases, 10 GW will be produced respectively. The facility is expected to provide annual sales of over RMB 10 billion ($1.45 billion).
Seraphim Energy signs 5 GW cell and 5 GW PV module deal: Seraphim Energy has signed a 5 GW TOPCon cells and 5 GW photovoltaic modules deal for an investment of RMB 5 billion ($0.72 billion), local media reports said. The report added that this is a significant project towards the development of a new energy industry in Bengbu city. In July, Seraphim had singed a MoU with Resolar (see China PV News Snippets) and in April the company had rolled out new S3 & S4 series dual-glass modules (see China PV News Snippets)
Shaanxi Coal invests RMB 18.2 billion in silicon and wafers: A subsidiary of state-owned super-large energy and chemical enterprise Shaanxi Coal and Chemical Industry, Huangling Mining, will be building an integrated factory to produce silicon-based new material coal, electricity, industrial silicon, polysilicon and silicon wafers, media reports said. Covering an area of 2,513 mu, the factory will be located in Huangling and the total investment will be RMB 18.2 billion ($2.64 billion). The factory will produce 100 thousand tons of silicon metal, 100 thousand tons of polycrystalline silicon, 20 GW of monocrystalline silicon ingots and 10 GW of monocrystalline silicon wafers. On completion, the annual sales income will be about RMB 21.4 billion ($3.10 billion) and the annual profit will be about RMB 11.9 billion ($1.72 billion).
Datang shortlists Huawei, Sungrow, Sineng Electric: China Datang Corporation announced via WeChat the winning candidates for the centralized procurement of photovoltaic power generation string inverter for 2022-2023. The winning candidate is Shanghai Youzhi New Energy Technology, a subsidiary of Huawei FusionSolar; followed by Sungrow and Sineng Electric.
GCL New Energy released H1 2022 report: GCL New Energy released its 2022 semi-annual report and said that it has achieved a revenue of RMB 558 million ($80.8 million), up 190.2% year on year. During the reporting period, the company’s grid-connected capacity of PV power plants touched about 830 MW. However, the company’s installed PV capacity decreased by 72% from 2.9 GW in the same period of 2021, which reduced the company’s revenue from electricity sales and tariff subsidies year over year. During the reporting period, the total financing cost was RMB 319 million ($46.21 million), down 66.35% year on year. In February this year, GCL had sold a subsidiary (see China PV News Snippets).
