China PV Snippets: Zhongli, Jinko, CSI, Tongwei, GCL, LONGi

Zhongli Sells Romanian Plant; Jinkopower Sells 70% Of Its Subsidiary; Canadian Solar’s Suqian Project Operational; Tongwei Releases Jan Cell Prices; GCL Capital Rises By RMB 790 Mn; Longi Invests RMB 1.4 Bn

China PV Snippets: Zhongli, Jinko, CSI, Tongwei, GCL, LONGi

As JinkoPower sells its stakes in 2 SPVs to State Power Investment Group Jiangxi Power for RMB 24 million ($3.72 million), the clean energy provider will now be holding only 30% each of Fuzhou Jinko and Ruichang Jinko. (Photo Credit: JinkoPower)

  • Subsidiaries of Zhongli Group have signed an equity transfer agreement with ALIVE ENERGY S.R.L for Euros 1.85 million
  • JinkoPower will be selling 70% of its stakes in Fuzhou Linchuan Jinko Power Co., Ltd. and Ruichang Jinko Power Co., Ltd. to State Power Investment Group Jiangxi Power Co., Ltd. for RMB 24 million
  • Canadian Solar’s Suqian module production line with an investment of RMB 10.2 billion ($1.58 billion) has begun operation
  • Core solar product manufacturer Tongwei has announced the prices of solar cells for January 2021
  • To speed up the construction of its 60 GW module base module project, GCL announced that it plans to pump in RMB 790 million ($122 million) to its wholly-owned subsidiary, Hefei GCL Integration
  • LONGi, announced ist intention to invest RMB 1.4 billion ($0.22 billion) in a 3 GW monocrystalline cell production line in Ningxia through its subsidiary Ningxia LONGi

Zhongli Group to sell Romanian PV power plant for 1.8 mn Euros: Solar module supplier Zhongli Group announced that its subsidiaries Talesun Solar Switzerland A.G. andTalesun Solar Bucharest S.R.L., have signed an equity transfer agreement with Alive Energy S.R.L for €1.85 million ($2.29 million). This move is being initiated to control investment risks and reduce investment losses of the company. Last year, Zhongli Group had reportedly suffered RMB 260 million ($3.76 million) losses in H1/2020 (see China PV News Snippets: Shanxi Coal, Zhongli Group)

JinkoPower to sell 70% of 2 project SPVs to State Power: Clean energy provider JinkoPower expressed its intention to sell 70% of its stakes in Fuzhou Linchuan Jinko Power Co., Ltd. and Ruichang Jinko Power Co., Ltd. to State Power Investment Group Jiangxi Power Co., Ltd. for RMB 24 million ($3.72 million). Fuzhou Jinko operates a 19 MW photovoltaic power generation project in Linchuan District, while Ruichang Jinko is the operating platform for the 30 MW photovoltaic power plant in Ruichang City.

Canadian Solar’s Suqian module production facility begins operation: In an announcement, Canadian Solar said that its Suqian module production line has begun operation. Canadian Solar had partnered with the Suqian Industrial Park project in 2020. The planned investment for the project spread across 450,000 square meters is pegged at RMB 10.2 billion ($1.58 billion). The project, divided into two phases, includes production capacities for solar modules and cells. Once the production lines are fully completed, it can produce 10 GW modules and 10 GW cells annually and is expected to achieve annual sales of RMB 23 billion ($3.56 billion).

Tongwei announces Jan cell pricing:  Vertically integrated PV module manufacturer with focus on silicon and cells, Tongwei has announced the prices for its solar cells for January 2021. The 210mm cell is priced at RMB 0.99/W ($0.15/W), while the 166mm cell is at RMB 0.95/W (0.15/W), and the 157mm polysilicon cell is at RMB 0.62/W ($0.096/W). There has been an increase of RMB 0.03/W ($0.0046/W) from the previous month in the 158.75 cell, which was priced at RMB 0.91/W ($0.14/W).

GCL to increase capital by RMB 790 mn in Hefei subsidiary: To speed up the construction of its 60 GW module base project, GCL System Integration announced that it plans to pump in RMB 790 million ($122 million) to its wholly-owned subsidiary, Hefei GCL Integration. With the inflow of this money, the registered capital of Hefei GCL will rise from RMB 10 million ($1.55 million) to RMB 800 million ($124 million).

LONGi to invest RMB 1.4 bn in 3 GW production line: Chinese vertically integrated solar PV company, LONGi, announced that it intends to invest in a 3 GW monocrystalline cell production line in Ningxia. The investment of RMB 1.4 billion ($0.22 billion) will be done through its subsidiary Ningxia LONGi. After the project is put into production, the company will rely on its own technical advantages to further expand the production capacity of the high-efficiency monocrystalline cells. The project is expected to be fully operational by December 2021.

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