Leading integrated solar manufacturer LONGi and solar cell maker Yingfa have jointly established a new company named Yibin Yingfa Derui Technology Co., Ltd., with a registered capital of RMB 1 billion ($137.36 million). According to equity records, its shareholders include Yibin Yingfa Deyao Technology Co., Ltd. with a stake of 50.1%, Sichuan Wuliangye New Energy Investment Co., Ltd., a subsidiary of China's well-known liquor producer Wuliangye, with 20.01%; LONGi subsidiary LONGi Leye Photovoltaic Technology Co., Ltd. with 19.9%; and Yibin High-Tech Investment Group Co., Ltd. owning 9.99%.
According to Beijing Business Today, this new joint venture will focus on the research and manufacturing of BC solar cells.
Yingfa was among the top 5 solar cell suppliers in 2024, according to the latest data released by InfoLink Consulting (see Top 5 Solar Cell Suppliers Shipped 163 GW Capacity In 2024).
Perovskite production equipment manufacturer Datamaker has completed a new round of financing, raising nearly RMB 10 million ($1.37 million). The funds will primarily be used for the research and production of large-size single-junction and tandem coating machines.
Founded in April 2021, Datamaker specializes in the research and production of slot-die coating machines. According to the company, its coating machines serve various technological research fields, including organic photovoltaic (OPV) cells, perovskite solar cells, dye-sensitized solar cells, OLEDs, and fuel cells.
Back in 2023, DataMaker completed Series A financing exclusively invested by Fountainbridge (see China Solar PV News Snippets).
Solar products developer EGing PV has announced that the judicial auction of 54,696,214 unrestricted circulating shares held by its controlling shareholder, Weizhi Energy, failed due to a lack of bidders. These shares represent 4.61% of EGing PV’s total share capital.
The company further stated that a total of 254,696,214 shares held by Weizhi Energy, or 21.47% of the company’s total share capital, have been frozen as part of a judicial process. Additionally, Weizhi Energy is involved in lawsuits related to debt defaults arising from external guarantees, with the total default principal amounting to approximately RMB 5.969 billion ($819.64 million).
If the frozen shares are later disposed of through judicial proceedings due to Weizhi Energy’s issues, it could lead to a change in EGing PV’s control and significantly impact its equity structure and corporate governance.
In January, EGing PV forecasted a net loss of RMB 1.9 billion ($269.5 million) to RMB 2.3 billion ($326.6 million) for 2024 (see China Solar PV News Snippets).
Integrated solar PV manufacturer Canadian Solar’s photovoltaic (PV) testing center has received a ‘Satisfactory’ certification from China’s National Institute of Metrology (NIM), which is one of China’s highest authorities in metrology science. In September 2024, the Canadian Solar PV Testing Center participated in a proficiency testing program organized by NIM. The program evaluated mainstream solar module products, including TOPCon and HJT, through precise measurements of key electrical performance parameters such as short-circuit current, open-circuit voltage, and maximum power under standard test conditions (STC). Having been awarded this certificate following NIM’s verification, Canadian Solar stated that it serves as authoritative recognition of its testing center’s excellence in measuring module electrical performance under STC.
Earlier this month, MSCI added Canadian Solar (A-share stock code: 688472) to the MSCI China Flagship Index (see China Solar PV News Snippets).
DONGFANG HITACHI has signed a strategic cooperation agreement with the Government of Lingwu City, Ningxia Province. According to the agreement, the company will construct a a photovoltaic inverter manufacturing facility in Lingwu City with an annual production capacity of 10 GW. Further details have not yet been disclosed.
DONGFANG HITACHI is a subsidiary of Dongfang Electric Corporation (DEC), one of the world’s largest energy equipment manufacturing groups. The company was established in 2004 as a joint venture between DEC and Japan’s HITACHI Group, with business segments covering photovoltaic inverters, energy storage systems, and frequency converters.
.png?w=50&fm=png){kind=logo}