China PV News Snippets: TZS, GCL, Zhejiang Southeast Space

Zhonghuan Semiconductor Wafer Price Increases By RMB 0.17/Piece; GCL New Energy Sells Subsidiaries To Repay Debts; Southeast Space To Acquire 51% Of Zhejiang First New Energy

China PV News Snippets: TZS, GCL, Zhejiang Southeast Space

Zhejiang Southeast Space Frame wants to acquire 51% equity of Zhejiang First New Energy Development with an intent to expand in the BIPV sector. (Photo Credit: Pan Demin/Shuttersotck.com)

  • Zhonghuan Semiconductor announces a price increase for monocrystalline silicon wafers in May
  • GCL-Poly Energy Holdings and GCL New Energy Holdings indirect subsidiaries enter into purchase agreements to sell another batch of solar power plants
  • Zhejiang Southeast Space Frame to acquire 51% equity of Zhejiang First New Energy Development held by Hangzhou First

Zhonghuan increases wafer prices: Chinese solar wafer manufacturer Tianjin Zhonghuan Semiconductor (TZS) announced the price of monocrystalline silicon wafers for May 2021. Compared with the price of monocrystalline silicon wafers announced in April, the quotation of G1 wafers have increased by RMB 0.17/piece ($0.026/piece); the M6 wafers have increased by RMB 0.185/piece ($0.029/piece); and the quotation of G12 wafers have increased by RMB 0.3/piece ($0.046/piece). Recently, the company published its 2020 annual report and said that during the reporting period, the company has achieved an operating income of RMB 19.05 billion (RMB 2.93 billion), a year-on-year increase of 12.85% (see China PV News Snippets: Zhonghuan, Sineng, JYT)

GCL New Energy sells subsidiaries to repay debts: GCL-Poly Energy Holdings and GCL New Energy Holdings jointly announced that its indirect subsidiaries Guizhou Zhongxinneng New Energy, Sanya GCL New Energy and Suzhou GCL New Energy have entered into the Second Phase Share Purchase Agreements with Guangdong Jinyuan New Energy Co., Ltd. and State Power Investment Corporation Guizhou Jinyuan Weining Energy Co., Ltd.  As per the agreement, GCL New Energy will be selling, among other things 99% equity interest in Ceheng Precision, and the entire equity interest in each of Dingan GCL, Luodian GCL and Suixi GCL. These companies together own 4 operational solar power plants in the PRC with an aggregate grid-connected capacity of approximately 127 MW. The net cash proceed from the transactions is expected to be approximately RMB 354.7 million ($54.78 million), which GCL New Energy intends to use to repay its debts. Last December, the indirect subsidiaries of GCL-Poly Energy and GCL New Energy had sold four PV companies with a total grid-connected capacity of approximately 185 MW (see China PV Snippets: Sungrow, Gaojing, Tongwei, GCL)

Southeast Space to acquire 51% of Zhejiang First New Energy: With an intent of expanding into the building-integrated PV business, Zhejiang Southeast Space Frame issued an announcement that it will acquire 51% equity of Zhejiang First New Energy Development Co., Ltd., held by Hangzhou First. It will pay in cash. The company, which isprincipally engaged in the design, manufacture and installation of construction steel structures, also said that it wants to use the industrial synergy to create a leading enterprise in the integration of green building photovoltaics.

 

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