- JinkoPower ‘s wholly-owned subsidiary to sign equity transfer agreement with Hubei New Energy
- Hangzhou Star Shuaier holding subsidiary, Am Solar signs major purchase contract with Taiheng New Energy
- Three Gorges to develop 1 GW photovoltaic projects in Huayuan County
- Tongwei raises prices of solar cells third time since May
JinkoPower to sell 150 MW PV power capacity to Three Gorges: In an announcement, clean energy provider JinkoPower said the company’s wholly-owned subsidiary intends to sign an equity transfer agreement with Hubei New Energy with a view to improve the structure and revenue quality of self-owned power stations. The company plans to sell 100% equity of Zuoyun Jingko and Jiangsu Xuqiang to Hubei New Energy for a consideration of approximately RMB 468 million ($73.09 million). Hubei Energy Group Co holds 100% equity of Hubei New Energy, and the controlling shareholder of Hubei Energy Group Co is China Three Gorges Corporation. Recently JinkoPower issued convertible corporate bonds worth RMB 3 billion ($0.46 billion) with the aim to invest and construct in photovoltaic power plant projects (see China PV News Snippets: JinkoPower, LONGi, Sungrow, Risen)
Hangzhou Star wins Taiheng PV module order: Hangzhou Star Shuaier announced that its holding subsidiary, solar module manufacturer Am Solar has signed a major purchase contract with a solar photovoltaic high-tech enterprise established by Chint New Energy, Taiheng New Energy. The company will purchase about 5 GW 182 solar modules from Am Solar in the next 3 years. Since the beginning of this year, affected by many factors, the price of solar modules has been rising. If calculated at the current module price of about RMB 1.9/W ($0.30/W), the total purchase agreement is expected to be close to RMB 10 billion ($1.56 billion).
China Three Gorges & Huayuan sign 1 GW PV agreement: Clean energy group focused on large scale hydropower development and operation Three Gorges signed a cooperation agreement with Huayuan County to develop PV projects in the County with an installed capacity of approximately 1 GW and an investment of approximately RMB 5 billion ($0.78 billion). Recently, China Three Gorges Southwest Branch had signed a ‘million-kilowatt’ PV project development agreement with the Huili County Government (see China PV News Snippets: China Three Gorges, JA Solar, Lead)
Tongwei raises cell prices yet again: In an announcement, core solar product manufacturer Tongwei raised the prices of solar cells yet again. This is the third time that the company has increased its price in May (see China PV News Snippets: Sungrow, Tongwei, Jolywood). As per the latest quotes:
- The 166 and 210 cells have both increased by RMB 0.58/W ($0.09/W) and the current price is RMB 1.08/watt ($0.17/W), an increase of 9.1%;
- The Polycrystalline 157 increased by RMB 0.19/W ($0.03/W), and the current price is RMB 0.86/W ($0.13/W), an increase of 3.6%.