Westlake University’s Future Industry Research Center and School of Engineering, led by Professor Rui Wang, have achieved a new breakthrough in perovskite/Cu(In,Ga)Se₂ (CIGS) tandem solar cells, reaching a power conversion efficiency of 23.4%. Titled "Divalent cation replacement strategy stabilizes wide-bandgap perovskite for Cu(In,Ga)Se₂ tandem solar cells," the research has been published in Nature Photonics. By introducing MDA²⁺, the team effectively suppressed ion migration and photo-induced phase segregation, significantly improving the stability of perovskite/CIGS tandem solar cells. The team stated that these tandem cells hold great potential for future applications in buildings, automobiles, aircraft, and flexible wearable devices, particularly on irregular surfaces.
Recently, HZB and Humboldt University Berlin claimed a world record for CIGS-perovskite tandem solar cell, achieving 24.6% efficiency (see ‘World Record’ For CIGS-Perovskite Tandem Cell With 24.6% Efficiency).
China Huaneng, JA Solar, and Inner Mongolia Forestry and Grassland Ecological Construction Co., Ltd. have formed a consortium to jointly develop a desertification control and wind-solar integrated project in Xin Barag Left Banner in Inner Mongolia. With a total investment of RMB 1.22 billion ($167.61 million), the project includes a 300 MW photovoltaic power plant equipped with a 15% 2-hour energy storage system. The project will cover a desertification control area of 24 km2. JA Solar will supply solar modules for the project, while Inner Mongolia Forestry and Grassland Ecological Construction Co., Ltd. will handle the desertification control work.
Recently, the Solar Stewardship Initiative’s (SSI) independent investigation confirmed that JA Solar is in full compliance with responsible sourcing principles (see SSI Clears JA Solar in UFLPA Forced Labor Investigation).
In its FY2024 financial forecast, solar cell equipment manufacturer S.C New Energy has shared that it expects to report a net profit attributable to shareholders of between RMB 2.3 billion ($315.89 million) and RMB 3.1 billion ($426.01 million), reflecting a year-on-year (YoY) growth of 40.80% to 89.77%. The company attributed this surge in profit to the continuous acceptance and revenue realization of its outstanding orders during the reporting period.
Shenzhen S.C recorded revenues of RMB 6.00 billion ($824.86 million) in 2022 and RMB 8.73 billion ($1.2 billion) in 2023, with respective net profits of RMB 1.05 billion ($143.84 million) and RMB 1.63 billion ($224.40 million). The 2024 earnings forecast indicates that the company has sustained substantial net profit growth for 3 consecutive years.
In October 2024, S.C New Energy had projected a Q3 2024 adjusted net profit of RMB 646.63 million ($89.81 million) to RMB 866.70 million (120.10 million), representing a YoY growth of 46.36% to 96.17% (see China Solar PV News Snippets).
Ink manufacturer Letong has announced its entry into the PV sector. The company, in collaboration with Ningbo Yuandao Transportation Technology Co., Ltd. and Guoyin Zhongnan Investment Management Co., Ltd., has jointly invested in Hangzhou Jisheng New Energy Technology Co., Ltd., with a registered capital of RMB 11.90 million ($1.63 million). Letong contributed RMB 4.998 million ($0.69 million) in cash to hold a 42% stake. The joint venture will focus on the new energy supply chain, particularly the solar PV business, including project design, manufacturing, procurement, logistics, installation, and operation & maintenance management. The company has set a performance target of achieving RMB 1 billion ($137.34 million) in revenue or RMB 40 million ($5.49 million) in net profit within 2 years.
Solar junction box manufacturer Zerun recently submitted its registration for an initial public offering (IPO) on the ChiNext board. According to its prospectus, the company plans to issue 15.97 million ordinary shares to raise RMB 720 million ($98.91 million). The proceeds will be used for expanding production capacity for solar module junction boxes, developing auxiliary power battery boxes for new energy vehicles, building an R&D center, and supplementing working capital. Zerun’s revenues for 2022, 2023, and the first half of 2024 were RMB 521.93 million ($71.66 million), RMB 844.31 million ($115.99 million), and RMB 296.68 million ($40.73 million), respectively. Net profits for the respective periods were RMB 86.40 million ($11.87 million), RMB 120.15 million ($16.50 million), and RMB 75.34 million ($10.35 million), respectively.
The solar module junction box project, located in Changzhou, Jiangsu Province, is expected to receive an investment of RMB 303.61 million ($41.70 million). Once completed, the company will achieve an annual production capacity of 35 million general junction boxes and 1 million smart junction boxes.
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