China PV News Snippets: JinkoPower, Huawei, State Grid

JinkoPower 2020 Net Profit Decreases By 27.60%; Huawei Releases White Paper; China PV Capacity To Reach 560 GW By 2025; State Grid Jilin To Build 100 MW Agricultural And PV Project; Lingda And GCL Sign Strategic Cooperation Agreement

China PV News Snippets: JinkoPower, Huawei, State Grid

Chen Guoguang, President of Huawei Smart Photovoltaics, releases smart string energy storage solutions at the 2021 Smart Optical Storage Conference. (Photo Credit: Huawei)

JinkoPower 2020 net profit decreases by 27.60% year-on-year: PV power station operator JinkoPower, releasing its 2020 annual performance report, stated that there has been a year-on-year decrease of 32.88%, and its total operating income stood at RMB 3.5 billion ($0.54 billion). The net profit attributable to shareholders of listed companies was RMB 523 million ($ 80.32 million), a year-on-year decrease of 27.60%. The main reason for this poor performance can be attributed to the EPC business of the company’s photovoltaic power plants, which was affected by delays in order acquisition, construction progress, and grid connection. This led to a decline in its year-on-year revenue, eventually resulting in a year-on-year decline in the company’s overall performance during the reporting period. Meanwhile, last November, JinkoPower had announced that it will build 2 GW agricultural PV power plant at Fujin City in Heilongjiang Province (see China PV News Snippets: Trina, JinkoPower, Chint)

Huawei releases white paper on Smart String Energy Storage Technology: At the 2021 Smart Optical Storage Conference, Chinese multinational technology company Huawei Technologies Co., Ltd released a white paper on Smart String Energy Storage Technology. The company integrates digital information technology with photovoltaic technology and energy storage technology, and it is for the first time that it has put forward a new concept of ‘stringing, intelligent and modular design’ of energy storage systems to achieve better LCOS and ultimately help achieve the transition from photovoltaic parity to solar storage parity. At the same conference, Huawei had launched its Smart Optical Storage Solution and Smart String Energy Storage Solution (see China PV News Snippets: Lingda, Konka, Zhonghuan, Huawei)

Research points PV capacity to be 560 GW in 2025 and 1,025 GW in 2030 in China: The Global Energy Internet Development Cooperation Organization held the China Carbon Peak Carbon Neutrality Achievement Release and Seminar in Beijing, and released Research on China’s Energy and Power Development Plan in 2030 and Prospects for 2060, pointing out that clean energy installed capacity in 2025 will become the dominant power source and all new electricity demand from 2025 to 2030 will be met by clean energy. It believes wind power and photovoltaic installed capacity will reach 540 GW and 560 GW respectively by 2025, and 800 GW and 1025 GW respectively by 2030.

State Grid Jilin to build 100 MW agri PV project in Fuxin: State Grid Jilin Province Electric Power Co., Ltd. issued an announcement regarding its investment in the construction of a 100 MW agricultural photovoltaic project in Fuxin, Liaoning Province. The total investment of the project will be RMB 474.51 million ($72.88 million), and the average annual power generation of the project will be about 158 million kWh.

Lingda Group and GCL Holdings sign strategic cooperation agreement: Lingda Group, a Chinese company active in waste heat power generation among others, issued an announcement stating that it has signed a strategic cooperation agreement with GCL Innovation Holdings Co., Ltd., which is a wholly-owned subsidiary of GCL Group. Both the companies intend to jointly establish a 1,000-mu carbon-neutral new energy industrial park project in Jinzhai County at Anhui Province. The companies, along with the local government will jointly establish a carbon-neutral industry development guidance fund to the tune of RMB 5 billion ($0.77 billion). They will also be focusing on the supply chain of silicon materials, silicon wafers, photovoltaic cells, photovoltaic modules, and power stations.

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