Tongwei joins hands with Libra for 100 MW PV module supply; TCL Zhonghuan to raise RMB 13.8 billion; DMEGC expects 50-70% rise in profit in Q1/2023; Astronergy and Romania EXIMPROD sign TOPCon order; Metron New Materials releases Q1/2023 performance forecast.
Tongwei & Libra partner for 100 MW PV shingled module supply: Over WeChat, integrated solar PV manufacturer Tongwei Solar said it has signed a 100 MW high-efficiency module supply agreement with Libra Energy. With this deal, Tongwei will help Libra Energy to widen its market and provide sustainable energy to more users. In March 2023, Tongwei announced winning a large modules orders of 2.3 GW (see China PV News Snippets). Tongwei recently presented an overview on its latest module technology innovations at a TaiyangNews event, which can be viewed here.
TCL Zhonghuan to issue RMB 13.8 billion convertible bonds: In an announcement, leading solar wafer supplier TCL Zhonghuan shared its plans to issue convertible bonds to raise about RMB 13.8 billion ($2.01 billion). This fund will be used towards building a 35 GW high-purity solar ultra-thin monocrystalline silicon wafers factory and a 25 GW n-type TOPCon high-efficiency solar cell production facility. The 35 GW wafer fab will be built in 18 months with an investment of RMB 3.6 billion ($0.52 billion), and will adopt international advanced diamond wire slicing technology. The 25 GW cell fab will be built in 2 years with an investment of RMB 10.6 billion ($1.5 billion). Recently, TCL Zhonghuan released its 2022 performance report, showing a profit growth of 63% in 2022 (see China PV News Snippets).
DMEGC net profit likely to rise by 50-70% in Q1/2023: Vertically integrated solar module manufacturer, DMEGC, announced that in the first quarter of 2023, the Chinese module maker expects a net profit attributable to the parent company of RMB 548 million to RMB 620 million ($79.7 million to $90.2 million), a year-on-year increase of 49.8% to 69.5%. Achieving considerably large rise in module shipments and favorable global market demands have enabled the company to anticipate this kind of growth. In December 2022, DMEGC had announced plans to invest in a 20 GW n-type cell facility to built in 3 phases (see China PV News Snippets).
Chint Astronergy and Romania EXIMPROD sign 200 MW n-type TOPCon order: PV power station developer and PV module producer CHINT Solar announced via WeChat that it has signed a 200 MW n-type TOPCon deal with Romanian EXIMPROD Group, who had come visiting Astronergy Haining headquarters. This further strengthens the presence of Astronergy’s n-type TOPCon modules in the European market. In March 2023, Astronery had delivered 154.4 MW photovoltaic modules to the Döllen Power Station in Brandenburg, Germany (see China PV News Snippets). Astronergy will speak at the upcoming TaiyangNews Distributed Solar & Storage conference on April 25. See agenda and register for free here.
Metron New Materials discloses Q1/2023 performance forecast: Disclosing its performance forecast for the first quarter of 2023, electroplated diamond wire producer Metron New Materials said that it expects to achieve a net profit of about RMB 370 million to 400 million ($53.8 million to $58.2 million), a year-on-year increase of 29.9% to 40.5%. During the reporting period, the sale of electroplated diamond wire exceeded 25 million kilometers (including about 2 million kilometers of tungsten diamond wire). The total sales volume rose by over 50% compared with the same period last year, the company added.