China PV News Snippets: Guangdong, Zhongsu, Dongfang

Guangdong No.2 Hydropower To Invest RMB 1.286 Bn; Zhongsu Huguang Industrial’s 5 GW HJT Cell Project Settled; Dongfang Shenghong To Acquire Sierbang Petrochemical; Kong Sun Sells 209 MW PV Power Station Project; Canadian Solar To Reach 2000 MW Of PV Installations

China PV News Snippets: Guangdong, Zhongsu, Dongfang

Canadian Solar and Luoyang City have partnered, with the solar company investing RMB 500 million ($77.17 million) in batches to implement technological transformation and upgrade projects for silicon wafers and components in Luoyang during the 14th Five-Year Plan period. It also plans to install 2 GW of PV power plants. (Photo Credit: Abriendomundo/ Shutterstock.com)

  • Guangdong No.2 Hydropower Engineering’s wholly-owned subsidiary has signed a cooperation agreement with the government of Anhua County for 300 MW forestry and photovoltaic complementary power generation project
  • A 5 GW monocrystalline HJT solar cell project of Zhongsu Huguang Industrial to be built in Yushan County
  • Dongfang Shenghong states its intent to purchase 100% equity in Sierbang Petrochemical for a price of RMB 14.36 billion ($2.22 billion)
  • Kong Sun Yongtai sells off entire equity of 7 solar power projects with a total scale of 209 MW to Xinhua Power Development Investment
  • Canadian Solar and Luoyang City, Henan Province partners to strengthen cooperation in the development and construction of PV plants in Luoyang City

Guangdong No.2 Hydropower to invest RMB 1.286 bn: Renewable energy engineering constructor Guangdong No.2 Hydropower Engineering in an announcement said that its wholly-owned subsidiary has signed a cooperation agreement with the government of Anhua County, Yiyang City, Hunan Province for a 300 MW forestry and photovoltaic complementary power generation project. The preliminary planning investment of the project is about RMB 1.286 billion ($0.20 billion). In May, the company had signed an agreement to develop photovoltaic power generation projects with Nanyang City, Henan Province for an investment of RMB 2.5 billion ($0.39 billion) (see China PV News Snippets: Guangdong, LONGi, Mingyang, Jilin)

Zhongsu Huguang Industrial’s 5 GW HJT cell project in Jianxi Province: The 5 GW monocrystalline HJT solar cell project of Zhongsu Huguang Industrial will be built in Yushan County, Jiangxi Province, a local news website reported. Spread across an area of 100 mu, the project’s investment in the first phase amounts to RMB 1 billion ($0.15 billion), and will involve building a 50,000 square meters standardized factory building and 4 fully automatic production lines. The company hopes to complete the project construction and achieve full capacity production within 8 months.

Dongfang Shenghong to acquire Sierbang Petrochemical for RMB 14.36 bn: Thermal power producer Dongfang Shenghong issued an announcement stating its intent to purchase 100% equity in Sierbang Petrochemical for a price of RMB 14.36 billion ($2.22 billion). Sierbang Petrochemical is into the production of EVA photovoltaic film material and in the year 2020 had produced about 338,000 tons. The sales revenue from EVA photovoltaic film material in 2020 amounted to RMB 3.5 billion ($0.54 billion).

Kong Sun sells 209 MW PV power station project: Kong Sun Yongtai, a wholly-owned subsidiary of Kong Sun Holdings Limited, has sold off the entire equity of 7 solar power projects with a total capacity of 209 MW to Xinhua Power Development Investment, it said in announcement. The sale amount was approximately for RMB 1.2 billion ($0.19 billion).   With this sale, investor and solar power plant operator Kong Sun will report a loss of approximately RMB 346 million ($53.40 million). The company has been reeling under debt for some time now and in December 2020 too, the company’s indirect wholly-owned subsidiary had planned to sell the entire equity of Yonglian for a total consideration of RMB 33.58 million (see China PV Snippets: Kong Sun, China Glass, Shanxi, JinkoPower)

Canadian Solar to reach 2,000 MW of PV installations in Luoyang: Canada headquartered Chinese solar power company Canadian Solar and Luoyang City, Henan Province have partnered to strengthen cooperation in project development and PV product construction in Luoyang City, the city’s local news website reported. As per the agreement, Canadian Solar will invest RMB 500 million ($77.17 million) in batches to implement technological transformation and upgrade projects for silicon wafers and components in Luoyang during the 14th Five-Year Plan period. The company also plans to start the development of 200 MW PV power plants in Luoyang this year. With a total investment of RMB 8 billion ($1.23 billion), Canadian Solar will strive to develop a capacity of 2,000 MW by the end of the 14th Five-Year Plan period. Recently, the company had announced that its first-quarter results in 2021 has risen by 32% year on year (see Canadian Solar Grew Q1/2021 Revenues By 32% YoY)

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