China PV News Snippets

Sungrow Signs Distribution Agreement With One Step Warehouse In Australia… & More

China PV News Snippets

Chinese inverter maker Sungrow says it has been cooperating with One Stop Warehouse in Australia for 8 years. The duo have announced a new distribution agreement now. (Photo Credit: Sungrow)

  • Sungrow enters distribution agreement with One Stop Warehouse in Australia
  • Chint subsidiary has signed equity transfer agreement with China Three Gorges Renewables Energy for 254.37 MW solar
  • Hengdian Group commissions its 2 GW high efficiency solar module production project
  • PV Infolink sees prices for polysilicon, wafer, cell and modules coming down gradually as market awaits end user demand

Sungrow’s distribution agreement with One Stop Warehouse: Chinese leading inverter producer Sungrow has signed a new distribution agreement with its largest distributor in Australia, One Stop Warehouse (OSE). The duo have already been cooperating for over 8 years. Claiming to occupy the largest share in Australian inverter market, Sungrow said the agreement is signed against the backdrop of the country’s Inverter Standards issue under which all inverters installed from December 18, 2021 had to meet new AS/NZS 4777.2 standard. However, now the new compliance certification AS/NZS 4777.2:2020, brokered as a resolution by the local industry, will not come into effect until June 30, 2022. This gives inverter makers and certifiers 6 months to fix the certification issue.

Chint sells stake in some project companies to Three Gorges: A subsidiary of Chint, Zhejiang Chint New Energy Development has signed a 100% equity transfer agreement in Hangzhou Taijing Photovoltaic Power Generation Co., Ltd. to China Three Gorges Renewables Energy for RMB 164 million. This transaction accounts for 254.37 MW solar power capacity exchanging hands. Chint said the sale is in line with its ‘high-tech, asset-light, platform-based, service-oriented’ business strategy.

Hengdian Group’s 2 GW module production project online: Hengdian Group DMEGC Magnetics Co., Ltd. has announced a 2 GW solar module production project has come online. Worth RMB 100 million, the project is expected to increase annual sales income by RMB 2.4 billion and account for total annual profit of RMB 58 million. Production capacity will be gradually released.

PV component prices expected to come down: Analysts at PV InfoLink are seeing prices for polysilicon, wafer, cell and modules coming down gradually as the ‘market awaits end user demand amid continual upstream price negotiation’. There are active negotiations between buyers and sellers and competitive pricing can be seen in some quarters. “Cell manufacturers expect M6 and M10 prices to revise up by RMB 0.01-0.02/W. However, the cell sector sees limited rising momentum, given decreasing polysilicon prices will drive down overall prices and rather sluggish demand in January and February in which the Lunar New Year falls,” stated PV Infolink.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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