China PV News Snippets

LONGi To Raise RMB 7 Bn & More From JinkoSolar, Kibing, Chint, Crown Advanced Material

China PV News Snippets

With the funds that LONGi expects to raise by issuing 70 million convertible bonds at the rate of RMB 100 per share, the company will be investing in different projects, including a 15 GW high-efficiency monocrystalline cell production project. (Photo Credit: LONGi)

  • LONGi to issue convertible corporate bonds to the tune of RMB 7 billion
  • JinkoSolar’s high-efficiency photovoltaic module project begins construction
  • Kibing Group launches subsidiary to build and operate distributed PV power stations
  • Chint Solar signs agreement with INTEC and solar developer BeGreen
  • Crown Advanced Material speaks about the progress of the company

LONGi issues RMB 7 billion bonds; JinkoSolar’s high-efficiency PV project begins construction; Kibing launches subsidiary to build and operate distributed PV stations; Chint partners with INTEC and BeGreen, and Crown Advanced Material speaks about its progress.

LONGi to raise RMB 7 billion: Chinese vertically integrated solar PV company LONGi announced publicly issuing convertible corporate bonds to the tune of RMB 7 billion ($1.10 billion). The funds will be used to invest in different projects, including the 15 GW high-efficiency monocrystalline cell project, which will be implemented through its subsidiary, LONGi Solar Photovoltaic Technology; and the 3 GW monocrystalline cell manufacturing project, which will be implemented through another subsidiary, Ningxia LONGi Solar Technology. TaiyangNews recently spoke to LONGi’s Hongbin Fang about prospects and competitive advantages of its Hi-MO 5 Module Series (see LONGi: Hi-MO 5 To Account For 30% Shipment in 2021)

JinkoSolar’s 8 GW PV module factory begins construction: The ground-breaking ceremony of JinkoSolar’s high-efficiency photovoltaic module production project was successfully held, local media reports stated. Spread across ​​540 acres and with a construction area of ​​about 220,000 square meters, the project is scheduled to be completed and put into operation by the end of June 2022. Once online, 8 GW of high-efficiency photovoltaic module capacity will be added. Recently JinkoSolar subsidiary had raised RMB 10 billion in its Chinese Initial Public Offering (see Jinko Solar Now Publicly Listed In China)

Kibing Group invests in subsidiary: Solar glass manufacturer Kibing Group announced that its subsidiary Chenzhou Kibing Photovoltaic Glass has invested in the establishment of its own subsidiary, Zhangzhou Kibing Photoelectric Technology Co., Ltd. The new company will focus on building and operating distributed photovoltaic power station projects independently. Last year, Kibing had announced its plans to invest in a new 1,200 t/d PV glass production line in Dongshan County (see China PV News Snippets: Kibing, TZS, JinkoPower)

Chint Solar joins hands with INTEC: Chint Solar has signed an agreement with INTEC and solar developer BeGreen. The company will provide EPC services for 328 MW photovoltaic power plants in Denmark, covering 3 PV power plants in Barmosen, Bregentved and Vildbjerg and an additional installed capacity of 13 MW. Recently Chint Solar had announced its plans to invest in 6 GW and 5 GW projects in Yanchi (see China PV News Snippets)

Crown Advanced Material speaks about its progress: On an investor interaction platform, solar module polymer packaging supplier, Crown Advanced Material stated the following to cite the progress of the company:

  • The company’s 120 million square meters of POE film expansion project for PV module packaging is progressing normally. Currently, 6 lines have been put into production.
  • The company has started production of its ‘intelligent’ grid film for HJT solar modules without busbars, and is being trial-produced in small batches and imported for customer testing.
  • An aluminum polymer film for power batteries has been put into production, where the aluminum-plastic film with an annual production capacity of 3 million square meters has been put into full production, while that with an annual production of 10 million square meters is currently undergoing trial production.

For detailed info on players and product in the polymer packaging segment for solar modules, please check our latest TaiyangNews Backsheet & Encapsulation Report.

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