CHINA PV NEWS Update-Week 16/17

Our weekly China PV News Overview provides select stories on solar developments in the world's largest PV market, which have been published on?TaiyangNews - All About Solar?over the course of the past 7 days. If you are interested in weekly solar updates on China, please subscribe. For our global daily newsletter, check our website https://taiyangnews.info/

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MARKETS

China Ministry releases operation data of PV rolled glass industry:?On its official website, the Ministry of Industry and Information Technology of China announced the operation data of the photovoltaic rolling glass industry from January to March 2023. Here are the details:

• From Jan-March 2023, the cumulative output of photovoltaic rolling glass was 5.4 million tons, an increase of 83.6% year-on-year. Among them, the output in March was 1.9 million tons, an increase of 88.7% year-on-year.
• From Jan-March, the average price of 2mm and 3.2mm photovoltaic rolled glass was RMB 18.8/square meter and RMB 25.4/square meter, down 6.6% and 1.9% year-on-year.

BUSINESS

Production / Cells & Modules

Aiko Solar to spend RMB 36 billion on cells and modules:?Solar cell producer Aiko Solar announced that it plans to sign an agreement with the Jinan Municipal Government to build a 30 GW high-efficiency crystalline silicon solar cell facility and a supporting 30 GW module facility. The total investment is expected to be about RMB 36 billion ($5.2 billion) and will be constructed in five years. The construction will be done in three phases, each with a capacity of 10 GW. The first phase is expected to begin in the first half of 2024 with an investment of RMB 12 billion ($1.7 billion). Aiko Solar had presented today at TaiyangNews’ Conference on?Distributed Solar and Storage 2023, whose video will be shared soon on?TaiyangNews’ YouTube channel.

FuturaSun’s to build cell and module facility in Huai’an:?Over a WeChat communication, PV module producer FuturaSun from Italy said that it will be investing about RMB 5 billion ($0.73 billion) in a 10 GW cell and 2 GW module facility in China. Spread across 400 mu, the facility is located in Huai’an city, and once put into production the annual output value is expected to be RMB 14 billion ($2.03 billion).

Trina to invest RMB 5 billion in high-efficiency cell facility:?Chinese solar module manufacturer Trina Solar?announced?the signing of an investment agreement with Huaian Economic and Technological Development Zone. With this, Trina plans to invest in a 10 GW new-generation high-efficiency cell facility and related supporting auxiliary facilities in Huaian. The total investment will be about RMB 5 billion ($0.73 billion) (including working capital). Meanwhile, the company also announced that its Qinghai facility has produced its first 210 Vertex modules. This also means that the first 5 GW facility of 15 GW module facility in Qinghai has been completed and put into operation. Using 210mm large silicon wafer technology and half-cut module technology, these 210 modules have higher customer value, can effectively reduce system BOS costs, and achieve lower cost per unit of electricity. On another note, Trina had taken part in TaiyangNews Solar Module Innovation Conference and spoken about its n-Type Solar Product (see?Jerry Cao, Trina: Trina’s n-Type Solar Product).

Production / Cells & Modules / HJT

RoboTechnik to invest RMB 1 billion in HJT cells:?High-end automation equipment manufacturer RoboTechnik?announced?that it plans to sign an investment deal with Nantong Economic and Technological Development Zone. The idea is to build a high-end equipment R&D and manufacturing facility for heterojunction cells. The total investment is expected to be about RMB 1 billion ($0.14 billion). Meanwhile, earlier this year, RoboTechnik had partnered with SPIC for HJT cells (see?China PV News Snippets)

Production / Cells & Modules / TOPCon

Jolywood to partner with Baida Seiko for 13.5 GW TOPCon facility:?N-type solar module manufacturer Jolywood?announced?that it has signed an agreement with Baida Seiko, a private enterprise that focuses on manufacturing and integrating science, industry and trade. As per the agreement, Baida Seiko plans to build a 13.5 GW solar cell facility, while Jolywood will support and promote the facility through equity participation and technical support services. The facility will be built in two phases. The first phase will be of 4.5 GW. Once it is completed and put into production, the second phase of 9 GW will begin. Last year, Jolywood’s Ma Jiayu had spoke about the POPAID route of producing TOPCon for utility application at TaiyangNews' High Efficiency Solar Technologies 2022 Conference (see?Ma Jiayu Jolywood: The POPAID Route of Producing TOPCon for Utility Application)

Production / Silicon to Modules

Silicon maker Hoshine releases RMB 42.6 billion investment plan:?Releasing its?investment plan, leading raw silicon manufacturer for the global solar PV production industry, Hoshine Silicon Industry, said that it will be spending about RMB 42.6 billion ($6.18 billion) in four major areas: silicon materials, silicon wafers, cells, and modules. Here are the details:

• RMB 20.5 billion ($2.9 billion) towards silicon-based new material facilities, including monocrystalline silicon ingot facility, monocrystalline wafer facility, monocrystalline solar cell facility and high-efficiency crystalline silicon photovoltaic module facility – all of 20 GW each. The construction period is for 3.5 years.
• RMB 4.4 billion ($0.64 billion) towards a 1.5 million tons of ultra-thin and high-transparency photovoltaic glass facility, whose construction period is 2 years.
• RMB 17.6 billion ($2.5 billion) towards high-purity crystalline silicon facility with an annual output of 200,000 tons. The construction period of which is 2 years.

Strategy / Financing Partnerships

Risen joins hands with Guangzhou YUEXIU Financial Leasing:?Chinese solar panel maker Risen Energy and Guangzhou YUEXIU Financial Leasing have signed a RMB 7 billion ($1.02 billion) household photovoltaic business deal. As a mark of its entry into household photovoltaics, Risen, originally a top10 Chinese cell and module makers, has launched Rising Sunshine, a brand focused on providing household customers with smart energy solutions. This is fast gaining grounds. Meanwhile, Guangzhou YUEXIU Financial Leasing has been a strong player in the field of clean energy for many years, and has enabled the distributed photovoltaic business to reach rural households. Now, with both the companies coming together, one can expect strong synergies and wide expansion of the photovoltaic business. Recently, Risen Energy had spoken at a TaiyangNews Conference about HJT being the mainstream cell technology by 2024 (see?Dr Po-Chuan Yang, HJT Risen Energy: HJT-Towards the Industrialization). The company has also expanded into energy storage for both distributed and large scale solar, the company explained at another TaiyangNews event (see TaiyangNews Distributed Solar & Storage 2023 Conference).

Antai Solar and UOB partner for U-Solar 2.0 plan in Thailand:?Over a WeChat communication, solar mounting systems provider Antai Solar said that it signed an agreement with United Overseas Bank as it launches its U-Solar 2.0 program in Thailand. Antai Solar is the sole and exclusive solar mounting system supplier in the U-Solar 2.0 program and will be partnering with other module suppliers in Thailand. This is being done with an aim to develop the local solar industry by ensuring professional and reliable solar products. At the TaiyangNews Bifacial & Solar Tracker Conference 2022 – Boosting Solar Power Plant Yields, Emmanuele Chiappori from Antaisolar spoke about Solar Trackers Wind Induced Instabilities (to watch the presentation, click?here).

Supply / Modules

DAS Solar wins SPIC’s 5.65 GW module procurement bid:?Chinese solar PV module and cell supplier DAS Solar said via WeChat that it has won Chinese State Power Investment Corporation’s (SPIC) 5.65 GW module procurement bid order. The company won the bid for N-type 900 MW, p-type 650W and other modules, all of which are known for their excellence, product quality, and the cost effectiveness.?Meanwhile, DAS Solar had spoken about n-type TOPCon multi-GW level module production at TaiyangNews Conference. (see?Dengyuan Song, DAS Solar: Development of n-Type TOPCon Multi-GW Level Module Production)

Financial Results & Forecasts

DKEM profit forecast for Q1/2023 at RMB 80-90 million:?Announcing its performance forecast for the first quarter of 2023, solar cell metallization past producer DK Electronic Materials (DKEM) said it expects to achieve a net profit of RMB 80-90 million ($11.5-$13.01 million), a year-on-year increase of 336.57% to 391.14%. During the reporting period, amid strong development of the photovoltaic industry, the company continued to lead the development of n-type TOPCon technology, with focus on improving efficiency and reducing costs of TOPCon metallization paste. This led to rapid expansion of the production capacity of downstream customers, and the company managed to maintain a lead position in n-type TOPCon cell metallization paste. To add to this, shipment of silver paste products applied to N-type TOPCon cells too increased significantly. All these factors combined together have contributed to the company’s performance. In February, at TaiyangNews’ Virtual Conference on Solar Cell Production Equipment & Processing Materials, Kevin Nan from DKEM called metallization innovation a key enabler for industrialization of TOPCon technology (see?Kevin Nan, DKEM: Presentation on Milestones in Metallization)

JinkoSolar expects Q1/2023 net profit at RMB 1.6 to 1.7 billion:?Module supplier JinkoSolar announced that in the first quarter of 2023, the net profit will be RMB 1.6 billion ($0.23 billion) to RMB 1.7 billion ($0.25 billion), a year-on-year increase of 298.89% to 323.82%. Strong global market demand and increase in the company’s photovoltaic module shipments are the main reasons behind this growth. Meanwhile, JinkoSolar’s Roy Bi Presented About Sustainable Modules Made By World Leading Solar Module Manufacturer At TaiyangNews Solar & Sustainability Conference (see?Getting Ready For Large Scale Solar Module Recycling)

QC Solar announces its 2022 performance report:?Photovoltaic system and power storage products company QC Solar announced its annual performance report. The operating income was about RMB 1.1 billion ($0.16 billion), a year-on-year increase of 49.43%, while the net profit was about RMB 118 million ($17.1 million), a year-on-year increase of 82.57%. The operating income of QC Solar, from January to June 2022, was made up of 79.4% of photovoltaic junction boxes; 18.9% of photovoltaic connectors; 1.5% of accessories, and 0.09% of other businesses accounting. Meanwhile, last year, TüV SüD had certified the company, based on the PPP 58211A:2022 standard for its photovoltaic connector (see?China PV News Snippets)

Shuangliang Eco-Energy expects up to 330% rise in Q1/2023 net profit:?Chinese production equipment maker Shuangliang Eco-Energy?announced?that as per preliminary, the company expects the net profit to be around RMB 470 million to 520 million ($68.2 to $75.4 million), a year-on-year increase of 288.86% to 330.23% in the first quarter of 2023. The main reasons for rise in profit, the company said, is because of the growth of the company’s energy-saving and water-saving equipment sales; and due to the capacity growth of 40 GW large-size monocrystalline silicon.

Drinda forecasts profit in Q1/2023:?Releasing its?performance forecast?for the first quarter of 2023, automotive instrument panel assembly producer Drinda said that it expects to achieve a net profit of RMB 330 to 380 million ($47.9-55.17 million), a year-on-year increase of 1425%-1656%. The company attributed this growth to high demand for n-type products. And as Chuzhou base released n-type TOPCon, the company was able to achieve substantial increase in sales revenue and profit.

Deye Technology 2022 annual report out:?Large-scale manufacturing enterprise integrating R&D, design, production, sales and services, Ningbo Deye Technology, has announced its 2022 annual report. Here are the details:

• The company’s revenue in 2022 is pegged at RMB 5.9 billion ($0.86 billion), a year-on-year increase of 42.89%
• The company’s net profit attributable to the parent company is at RMB 1.5 billion ($0.22 billion), a year-on-year increase of 162.28%
• During the reporting period, the company’s inverter products achieved a revenue of RMB 3.9 billion ($0.57 billion). This accounts for 66.4% of the company’s revenue, a year-on-year increase of 230.41%

Last year, Deye Technology had announced its plans to raise RMB 3.5 bn for 28.5 GW inverter project (see?China PV News Snippets)

TAIYANGNEWS VIRTUAL CONFERENCE SUMMARY & VIDEOS

TaiyangNews hosted its 1st Distributed Solar and Storage Virtual Conference on April 25, 2023: Companies that presented at the Conference included leading module makers LONGi, JinkoSolar, Aikosolar, Astronergy, Risen, some of who are offering also battery storage or other system solutions. Start-up Solarnative presented about applications of its innovative microinverter, and Chinese white-ware giant Haier talked about their motivation to expand into the home energy market. The participants see Distributed Solar and Storage as a an even faster growing segment propelled by the fossil fuel energy crises as a consequence of the Russian invasion of Ukraines. As shown at the event, manufacturers are moving forward with technological advancements in product offerings to cater to this market with focus being on higher efficiency and lower cost. To read the summary of the Conference, click here. To access the presentations, click here.

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