China PV News Snippets: Xinte, Concord, Jolywood, Parknx

Xinte To Raise RMB 2.2 Bn For Silicon Plant; Concord Announces 2021 Interim Results; Changzhou Parknx To Build 8 GW PV EVA Project; Jolywood Partners With Anxing For Rooftop PV Project

China PV News Snippets: Xinte, Concord, Jolywood, Parknx

Bifacial solar cell and module manufacturer Jolywood has signed up for a 100 MW project, where it will provide distributed photovoltaic rooftop to the entire town of Anxing in Shandong Province. (Symbolic photo; Photo Credit: Esbobeldijk/Shutterstock.com)

  • Xinte to raise RMB 2.2 bn for silicon plant and solar & wind projects
  • Concord New Energy achieving RMB 970 million ($149.55 million) revenue in H1/2021
  • Changzhou Parknx Film Technology to build 8 GW solar module EVA film facility in Xianyang
  • Jolywood signs contract with Anxing Town for a 100 MW distributed photovoltaic rooftop project

Xinte to raise RMB 2.2 bn for silicon plant and solar & wind projects: Xinte Energy announced that it has entered into a subscription agreement with its main shareholder TBEA, a Chinese transformer and inverter company. The polysilicon manufacturer said that TBEA has conditionally agreed to subscribe for, and it has conditionally agreed to allot and issue over 167 million shares for RMB 13.73 per share, amounting to about RMB 2.2 billion ($0.34 billion). Out of this, approximately 87.22% of the net proceeds (after deducting related costs) or RMB 2,000 million ($308.34 million) will be used for the construction of a 100,000 ton polysilicon project and about 12.78% or RMB 293 million ($45.17 million) will be used for the development of wind power and PV resources.

Earlier this year, Xinte Energy had signed an investment framework agreement with the Baotou Municipal Government and Tumd Right Banner Government to build a high-purity polysilicon factory with an annual production capacity of 200,000 tons, industrial silicon and supporting projects in China’s Baotou City (see Xinte Energy To Build 200,000 Tons Polysilicon Fab)

Concord announces 2021 interim results: Solar and wind power operator Concord New Energy released its interim results for the first half of the year as of June 30, 2021. The company saw a steady growth during this period, achieving a revenue of RMB 970 million ($149.55 million), a net profit of RMB 403 million ($62.13 million) and net assets of RMB 6.7 billion ($1.03 billion). The company’s net profit was up 6.3% compared to the same period last year. Meanwhile, the total debt-to-asset ratio was 66.61%, down 0.13% compared to December 31, 2020.

By stepping up its efforts to develop and build grid parity power plant projects, Concord New Energy achieved a record size of projects under construction in the first half of 2021 – a total of 1,742.5 MW compared to 946 MW for the same period in 2020.

Changzhou Parknx to build 8 GW PV EVA film factory: Changzhou Parknx Film Technology has signed an agreement with Xianyang City to invest in an 8 GW photovoltaic module EVA film project in Xianyang, Shaanxi, as per a Photovoltaic Network News report.  The total investment of the project is about RMB 500 million ($77.09 million). Production start is planned for 2022.  The project will be developed in two phases:

  • The first phase will spread across 30 acres and will have an investment of RMB 300 million ($46.25 million). Five production lines will be developed and the production capacity is expected to be 4 GW, with an annual output value of RMB 360 million ($55.50 million).
  • The second phase will see workshops and 5 new production lines spread across 13,000 square meters.

The production capacity of the both phases is expected to reach 8 GW, and the annual output value to contribute over RMB 600 million ($92.5 million).

Jolywood partners with Anxing for rooftop PV project: Bifacial solar cell and module manufacturer Jolywood has signed a contract with Anxing Town for a 100 MW distributed photovoltaic rooftop project.

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