- SPIC Hubei signs agreement with Linyang Energy for new energy developments
- Flat Glass Group to purchase 100% equity of Anhui Dahua Oriental Mining and Anhui Sanli Mining for RMB 3.3 billion
- Hunan Development subsidiary to establish a RMB 20 million new company
- Hoshine subsidiary to invest in RMB 17.5 million polysilicon project
- Tongwei’s 2021 operating income and net profit up
SPIC partners with Linyang for new energy developments; Flat Glass purchases Anhui Dahua Oriental and Anhui Sanli Mining; Hunan Development establishes new company; Hoshine subsidiary invests in polysilicon project; and Tongwei’s 2021 operating income at RMB 66.6 billion.
SPIC and Linyang partner for new energy development: The Chinese State Power Investment Corporation (SPIC) Hubei Branch has signed a strategic cooperation agreement with electricity meter company and solar developer Linyang Energy to focus on new energy developments and the dual carbon business, Linyang said in a release. Both the parties will develop and maintain new energy projects, and concentrate on operation and maintenance of photovoltaic projects, EPC engineering construction, energy storage business, and distributed photovoltaics on rooftops throughout the county. Linyang currently owns 1.6 GW of photovoltaic power plants, over 6 GW of reserve photovoltaic projects, over 3 GWh of energy storage reserve projects, and over 3.5 GW of operation and maintenance photovoltaic projects. With this partnership, Linyang looks forward to more market development in Hubei.
Flat Glass to acquire Dahua and Sanli Mining: Chinese supplier of solar PV glass, Flat Glass Group, has announced that it intends to purchase 100% equity of Anhui Dahua Oriental Mining and Anhui Sanli Mining for a transaction price of RMB 3.3 billion ($0.52 billion). The company said that quartz sand, which is a key raw material for the production of photovoltaic glass and float glass, has been in demand as the company has been continuously expanding its production and sales. Now, with this acquisition, the company can increase the reserves of quartzite resources and meet the demand and quality of sand at the production base, it said.
Hunan Development to set up a subsidiary: Hunan Development, in an announcement, said that its wholly-owned subsidiary Hunan Development Group Hydropower Industry Management Group Co., Ltd., plans to invest and establish a wholly-owned subsidiary company, Hunan Development Lukou New Energy Development in Zhuzhou. The capital is proposed to be RMB 20 million ($3.15 million), and the business scope would include development, investment, operation and maintenance of solar power generation, along with wind and hydropower generation.
Hoshine Silicon to invest in RMB 17.5 polysilicon project: Rare organic silicon and industrial silicon supplier Hoshine Silicon released an update on the foreign investment of its wholly-owned subsidiary, Central Xinjiang Hoshine Silicon. The subsidiary will be investing in the construction of New Material Industry Integration Project in the Ganquanbao Economic and Technological Development Zone in Urumqi. With an investment of RMB 17.5 million ($2.76 million), the project will produce 200,000 tons of high-purity polysilicon annually. The construction will take place from May 2022-2025.
Tongwei releases 2021 annual results: Releasing its 2021 annual performance results, polysilicon and cell manufacurer Tongwei said that:
- its operating income was RMB 66.6 billion ($10.49 billion), a year-on-year increase of 50.7%;
- the net profit attributable to shareholders of the listed company was RMB 8.2 billion ($1.29 billion), a year-on-year increase of 127.4%.
One of the reasons for this good performance is that last year, the supply of high-purity crystalline silicon products was in short supply, and the market prices increased significantly year-on-year. Last year too, Tongwei’s operating income had risen significantly (see Tongwei’s H1/2021 Cell Shipments Nearly Double)