Bureau Veritas’ Green Supply Chain Leadership Award for TrinaTracker
TrinaTracker, the solar tracker division of Trinasolar, has been awarded the Green Supply Chain Leadership Award by Bureau Veritas. TrinaTracker stated that its team not only strives to achieve low-carbon targets within its operations but also actively engages upstream and downstream suppliers to reduce carbon emissions across the supply chain, thus contributing to a sustainable green supply chain. Bureau Veritas is an approved auditing body under the United Nations Clean Development Mechanism (CDM) and the European Union’s Emissions Trading System (ETS). TrinaTracker remarked that this award affirms Bureau Veritas’ recognition of its comprehensive low-carbon development strategy.
TCL TZE’s Q3 net profit down 328.85% YoY
A supplier of solar wafers to modules, TCL TZE has released its financial report for Q3 2024. The company’s revenues of RMB 6.37 billion ($891.63 million) were down 53.7% year-on-year (YoY). It reported a net loss attributable to shareholders, excluding non-recurring items, of RMB 3.433 billion ($480.84 million), down 328.85% YoY. For the first 3 quarters, the company achieved revenues of RMB 22.582 billion ($3.161 billion), down 53.59% YoY, while reporting a net loss attributable to shareholders after non-recurring items of RMB 6.922 billion ($969.43 million), down 230.39% YoY. The company attributes these significantly negative numbers to price and cost inversions due to the supply-demand imbalance, weaker competitiveness in the solar cell and module sectors, and the impact of declining performance from its subsidiary Maxeon. TCL TZE also reported that its photovoltaic (PV) material shipments reached 94.86 GW in the first 3 quarters, up 11.4%, with a 19.2% market share in silicon wafers, ranking first in the industry. As of the end of September 2024, the company’s monocrystalline capacity rose to 190 GW and shingled module capacity reached 24 GW.
Recently, TCL TZE announced that it has begun supplying solar modules for the new energy base jointly developed by CTG Corporation and Inner Mongolia Energy Group in the Kubuqi Desert (see China Solar PV News Snippets).
Maxwell’s 9M 2024 revenues up 52.09% YoY
Solar cell production equipment maker Maxwell Technologies has released its financial results for Q3 and 9M 2024. Maxwell reported a 29.47% YoY increase in Q3 revenues to RMB 2.897 billion ($405.68 million). Its net profit attributable to shareholders, excluding non-recurring items, was up 0.78% YoY to RMB 282.06 million ($39.5 million). For the first 3 quarters, Maxwell’s revenue totaled RMB 7.767 billion ($1.088 billion), representing a 52.09% YoY increase. It achieved net profit attributable to shareholders, excluding non-recurring items, of RMB 758.51 million ($106.22 million) for the 9-month period, which was up 6.3% YoY. The company attributed its revenue growth to the increased acceptance of orders for its solar cell manufacturing equipment.
Jinergy leads large-area perovskite solar cell demonstration project
The High-Efficiency, Stable, Large-Area Carbon-Based Perovskite Solar Cell Demonstration Project has released its findings. The project was launched in 2020 and is led by Jinergy, jointly developed with institutions such as Shaanxi Normal University and Taiyuan University of Technology. The project aims to improve the photoelectric conversion efficiency and stability of modified perovskite solar cells. According to the research, small-area carbon-based perovskite solar cells achieved an initial efficiency of 21.27% under standard testing conditions, with a working efficiency of 20.39% after 1,000 hours, reflecting a 4.13% degradation. After verification, large-area perovskite cells demonstrated efficiencies of up to 16.74% for rigid films (400 cm²) and 300 cm² flexible films. Using wet-coating perovskite film technology on 166 mm heterojunction (HJT) base cells, the perovskite-silicon tandem cell achieved an efficiency of 26.1% on a 274.35 cm² area.
MINGR divests PV business
Jewelry maker MINGR has announced its plans to fully divest its wholly-owned solar-focused subsidiary Minghao New Energy to the controlling shareholder SunMoon Group. The company says this would help it better optimize its asset-liability structure and focus on its core business. This equity transfer has been valued at RMB 51 million ($7.15 million) and is not expected to impact the company's operations adversely.
In March, Trinasolar signed a cell purchase framework agreement with Lunisolar, a wholly-owned subsidiary of jewelry maker MINGR (see China Solar PV News Snippets).
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