China Solar PV News Snippets

SOFAR Solar wins 2024 Red Dot award; JA Solar forecasts H1 2024 loss; CHG EnSOL inaugurates 12 GW TOPCon base; SC-SOLAR signs $39.48M sales contract; Trina Solar cancels $1.50B fundraising plans; Delixi to build 10 GW TOPCon fab.

2024 Red Dot Design Award for SOFAR: Inverter and energy storage system (ESS) provider SOFAR Solar has been named the winner of the 2024 Red Dot Design Award for its commercial ESS solution PowerMagic. The company says PowerMagic is one of the few commercial ESSs on the market that utilizes AC coupling technology, offering 4 major advantages: lower levelized cost of storage (LCOS), high efficiency and flexibility, ultimate safety, and intelligent management. According to the company, the system, composed of on/off-grid cabinets, confluence boost cabinets, energy storage cabinets, and battery cabinets, serves as an emergency power source while also facilitating efficient peak-valley arbitrage.

In November 2023, SOFAR announced that its IPO application had passed the Shenzhen Stock Exchange review (see China Solar PV News Snippets).

JA Solar forecasts negative results for H1 2024: The recent H1 2024 preliminary results from PV manufacturer JA Solar forecast a loss for the reporting period. For the first 6 months of 2024, JA Solar expects a net loss of RMB 800 million to 1.2 billion ($110.32 million to $165.48 million), compared to a profit of RMB 4,813.33 million ($662.10 million) in the same period last year. The company cites intense competition and continued price declines for PV products as the reason behind this negative result.

LONGi Green Energy says that the year 2024 will be a 'very difficult year' for the company as well as the industry (see LONGi: 2024 Difficult Year For Company & Industry).

CHG EnSOL's Tongcheng TOPCon cell manufacturing base starts operations: CHG EnSOL has inaugurated its 12 GW n-TOPCon cell manufacturing facility at its Tongcheng Photovoltaic Industrial Base. The company says that the TOPCon cells manufactured at the facility reach an efficiency of 26.6%, an achievement that took 1.5 years of the company's efforts.

SC-SOLAR signs sales contract worth RMB 287M: Solar equipment producer SC-SOLAR has signed a sales contract with an undisclosed customer for RMB 287 million ($39.48 million). The contract encompasses the sale of solar module assembly line equipment, automatic packaging lines, and laminators. According to the announcement, this contract accounts for 3.98% of SC-SOLAR's revenue for 2023.

Trina Solar abandons RMB 10.9B fundraising plans: Solar module manufacturer Trina Solar has announced that it has terminated its fundraising plans for projects worth RMB 10.9 billion ($1.50 billion). The company had adopted the share issuance route for this fundraising according to July 2023 announcement. Trina Solar had planned to use the proceeds to invest in 3 PV manufacturing facilities in Jiangsu Province. These were a 10 GW high-efficiency solar cell facility in Huai'an City, and a 10 GW cell + 10 GW module manufacturing facility in Dongtai City. The company said that this decision comes on the back of an assessment of its situation and changes in the capital market and related policies.

Recently, Trina Solar said that it expects TOPCon to remain the mainstream mass-produced technology over the next 2 to 3 years (see China Solar PV News Snippets).

Delixi's 10 GW TOPCon cell & module fab to come up in Baodi District: Industrial conglomerate Delixi Group has announced that it has signed an agreement with the Baodi District of Tianjin. According to the agreement, Delixi will set up its 10 GW TOPCon cell and module facility in the region for a RMB 10 billion ($1.375 billion) investment. Having been named one of the top 500 Chinese companies for 21 years consecutively, this facility is said to be the company's first foray into the renewable energy field.