CHINA SOLAR PV NEWS UPDATE: WEEK 28

JA Solar ’s 5 GW solar module facility in Baotou has begun construction; HUASUN HJT & A2 Technologies have signed a HJT module deal; Sungrow Power Supply Co., Ltd. Floating PV has ranked 1st in global market share; 天合光能 ’s HJT mass production cell efficiency touches 26.50%; #July18 - TaiyangNews - All About Solar to host Special Webinar on Global Solar Market Developments: H1 Review & H2 Outlook.

All these and a host of other news stories from China in our Weekly China Solar PV News Overview. 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

Chinese Government steps in to prevent overcapacity & rationalize production expansion: The Ministry of Industry and Information Technology (MIIT) in China has launched a public consultation to limit solar PV manufacturing expansion spree in the world’s largest PV market as the industry suffers the effects of oversupply.??The overcapacity of PV components is leading to a drastic drop in prices with ensuing competition negatively impacting the fortunes of PV manufacturers. Several companies, including tier I, have reportedly scaled back or terminated their expansion plans. Trina Solar recently terminated plans to raise funds for its PV expansion, while JA Solar expects to report H1/2024 loss owing to these reasons (see China Solar PV News Snippets ).?The ministry is attempting to encourage technological progress, standardized and healthy development in the industry, while curbing excessive and repetitive manufacturing capacity expansion.?For the complete story, click here .

BUSINESS

Production / Cells & Modules

JA Solar’s Baotou 5 GW solar module facility starts construction: Solar module manufacturer JA Solar has broken ground on its Baotou solar module facility. The facility, located in the Economic and Technological Development Zone of Baotou City, is being built for an investment of RMB 1.4 billion ($192.6 million). The project, managed by a joint venture with Inner Mongolia Baotou Energy Development Co., Ltd., is expected to produce 5 GW of solar modules annually once complete. On the financial front, JA Solar has forecast a loss for the 1st half of 2024 (see China Solar PV News Snippets ).

Production / Cells & Modules / TOPCon

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.

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.

Production / Cells & Modules / HJT

SoleFiori to set up 2nd HJT cell and module base in Jiangsu: HJT manufacturer SoleFiori Technology has announced that it has signed an agreement with the Qidong City administration to set up its 2nd HJT cell and module base. To be built in 2 phases, the Qidong base will have 4 GW of production capacity for cells and 6 GW for modules. The company also plans to be ready for an upgrade to HBC (heterojunction back contact) and perovskite tandem cell technologies. The company set up its 1st production line in Zhuhai, Guangdong province with 1 GW capacity.

Production / Cells & Modules / Perovskite

BOE to expand perovskite cell pilot line: A leader in the semiconductor display industry, BOE Technology Group has announced plans to invest RMB 871 million ($119.79 million) to construct a high-efficiency perovskite thin-film solar cell pilot line. To be invested through its subsidiary BOE Solar Technology, this pilot line would be an expansion of the high-efficiency perovskite thin-film solar cell R&D platform approved in May this year, with both facilities currently under construction.

Seraphim partners with Xuli Perovskite New Energy: Lightweight flexible module maker Seraphim has announced a strategic partnership with Shanghai Xuli Perovskite New Energy Co., Ltd (Xuli Perovskite New Energy). The 2 companies aim to mainly collaborate in developing silicon-perovskite tandem cell technology and promoting the development of more end-use application scenarios for PV products.

Supply / Cells & Modules / HJT

Huasun & A2 Technologies sign HJT module deal: Heterojunction (HJT) solar PV manufacturer Huasun Energy has announced that it has signed a module supply deal with A2 Technologies. The deal, signed after ASEAN Sustainable Energy Week Thailand 2024, involves the supply of Huasun’s high-efficiency Himalaya G12-132 HJT modules for Thailand’s diverse solar applications. A2 Technologies is an EPC leader in Asia, and the 2 companies aim to enhance their market presence in Asia-Pacific with this deal. Huasun’s Himalaya G12-132 HJT modules feature 750.54 W of power and 24.16% efficiency, and are suitable for various applications including ground-mounted and floating PV systems.

Grand Sunergy signs RMB 164M module supply contract: Heterojunction (HJT) cell and module manufacturer Grand Sunergy has signed a module supply contract with China Construction Second Engineering Bureau Ltd. According to the contract, Grand Sunergy will supply HJT PV modules worth RMB 164 million ($22.56 million) to the CGDG Ruoqiang 4 GW project. The project is dubbed the largest single-unit PV project in China, costing RMB 11 billion ($1.51 billion). Grand Sunergy recently announced that it has secured 2 significant projects in China’s renewable energy sector (see China Solar PV News Snippets ).

Supply / Equipment

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.

Multiple companies establish new PV company: Integrated solar PV manufacturer Tongwei Solar, along with a set of other companies, has established the Sichuan Tongwei Crystalline Photovoltaic Industry Innovation Co., Ltd. Tongwei is the largest shareholder with a 51% stake in the company that has a registered capital of RMB 100 million ($13.74 million). Other shareholders include solar material suppliers Cybrid and Fusion Materials, solar cell and module equipment supplier LEAD, solar laser equipment manufacturer DR Laser, and solar cell equipment manufacturer Laplace, holding a 5% stake each. The company will focus on the sales of PV equipment and components, non-metallic minerals and products, and sales and R&D of electronic materials.

Floating PV Plants

1 GW offshore PV project to come up in Shandong Province: The Guohua HG14 1GW offshore solar PV project located in the offshore area of Dongying, Shandong Province, has been approved by the State Council and subsequently by the Ministry of Natural Resources. It is set to be the first offshore PV project in Shandong Province with approved 3-dimensional rights. To be built for an investment of RMB 8 billion ($1.1 million), it will also be China’s first large-scale offshore steel truss platform-based fixed-pile PV project. Its 1,322.24 MWp (DC) / 1,000 MWp (AC) capacity will be built using 2,319,720 dual-glass n-type bifacial modules with 570 Wp of power output. Covering an area of 1,222.70 hectares on the sea surface, the project’s 3-dimensional model will see a synergistic blend of aquaculture and PV power generation. In May 2024, TaiyangNews published the 1st TaiyangNews Market Survey On Floating Solar Technology. Click here to download the free report.

China’s 1st large-scale offshore solar project grid-connected: The 120 MW 1st phase of China General Nuclear Corporation’s Zhaoyuan Offshore PV Project has been officially grid-connected. The project is located in the Laizhou Bay area of Shandong Province. It is spread over an area of 6.44 sq. km. with a total planned capacity of 400 MW, which makes it the country’s first large-scale nearshore pile-based fixed offshore PV project. The project, when complete, is expected to generate 690 million kWh of electricity annually, sufficient to power 400,000 households. reduce coal consumption by about 207,000 tons and cut CO2 emissions by about 532,000 tons annually.

Sungrow Floating PV ranks 1st in global market share: The recently announced global rankings by S&P Global has ranked Sungrow Floating PV as the top announced floating photovoltaic (FPV) system supplier for the 7th consecutive year. The company says it tops the S&P Global list by a huge margin, with its shipments far exceeding those of the nearest competitor.

R&D Center

DR Laser to build R&D and production base: Solar laser equipment manufacturer DR Laser has announced that it plans to sign a cooperation agreement with the East Lake New Technology Development Zone in Wuhan City, Hebei Province. According to the agreement, DR Laser plans to invest RMB 3 billion ($412.8 million) in the construction of Phase 3 of its R&D and production base. The investment would include fixed asset investments, research and development, and other operating expenses. Currently, DR Laser has R&D centers in Wuhan, Wuxi, Yavne (Israel), and Singapore. The company also plans to expand its Wuhan R&D center.

Efficiency

Chinese team achieves 26.7% steady-state efficiency for perovskite cells: A Chinese team led by Prof. Xu Jixian from the University of Science and Technology of China has set the highest certified steady-state efficiency of 26.7% for perovskite cells. This record was published as part of the latest Solar Cell Efficiency Tables (Version 64). According to local media, this is the 3rd consecutive time that the team has set a new record, having set records in both 2022 and 2023 (Version 60 and Version 63).

Efficiency / TOPCon

JA Solar tops TOPCon cell efficiency ranking: Vertically integrated PV manufacturer JA Solar has been named the top performer in the TOPCon mass production size cell efficiency category in the Solar Cell Efficiency Tables (Version 64). The record was set by JA Solar’s 330 cm2 TOPCon cell, which is one of its mass production sizes and the largest in the list. The list is published in the Progress in Photovoltaics journal by a research group led by UNSW’s Prof. Martin Green, who is known as the ‘Father of Modern Photovoltaics.’ JA Solar recently secured the EcoVadis Silver Medal with a score of 62 in the global corporate social responsibility assessment (see China Solar PV News Snippets ).

Efficiency / HJT

Trina Solar’s HJT mass production cell efficiency reaches 26.50%: In a recent release, solar module manufacturer Trina Solar has expressed that it expects TOPCon to remain the mainstream mass-produced technology over the next 2 to 3 years. It, however, continues its R&D efforts on technologies such as heterojunction (HJT) and perovskite. With respect to HJT, the company says that its HJT cells have reached an ISFH CalLab certified mass-production conversion efficiency of 26.50%. It says further that its cell efficiency ranks 1st in the industry. In the perovskite-silicon tandem space, the company says that its 16 cm2 (large-area) tandem cell has achieved a conversion efficiency of 28.53% in the lab setting. The company sees HJT and perovskite gaining greater prominence in the future. Trina Solar recently announced its plans to repurchase shares for up to RMB 2 billion ($0.28 billion) (see China Solar PV News Snippets ).

Company Performance

Drinda New Energy forecasts net loss for H1 2024: JTPV’s parent company Drinda New Energy has forecasted a net loss of RMB 90 million to RMB 180 million ($12.37 million to ?$24.74 million) for the first half of 2024. This is a sharp decline from a profit of RMB 955.50 million ($131.36 million) for H1 2023. Drinda cites increased competition and profit declines across the PV industry chain as major factors impacting its performance. For the H1 2024 period, the company shipped 19.21 GW of solar cells, with n-type cells accounting for 85.5% of the total.

Shuangliang forecasts net loss of up to RMB 1.28B for H1 2024: PV equipment and silicon wafer manufacturer Shuangliang has forecasted a net loss of RMB 1.03 billion to RMB 1.28 billion ($141.64 million to $176.02 million) for the first half of 2024. This is against a profit of RMB 617.95 million ($84.95 million) for the same period last year. The company blames a significant decrease in gross margin and increased provisions for inventory devaluation in its monocrystalline silicon business as the primary factors contributing to the losses.

JYT Corp to report up RMB 1.13B net loss for H1 2024: Silicon wafer manufacturer and solar power station developer JYT Corporation has announced that it expects to report a loss of RMB 756 million to RMB 1,130 million ($103.99 million to $155.37 million) for H1 2024. For the same period last year, the company had reported a profit of RMB 55.52 million ($7.63 million). The company attributes the negative results to intense market competition, continued price declines for silicon products, and a substantial increase in inventory depreciation.

LONGi forecasts up to RMB 5.5B net loss for H1 2024: Releasing its financial forecast for the first half of 2024, vertically integrated solar company LONGi has announced it expects to report a net loss of RMB 4.8 billion to RMB 5.5 billion ($660 million to $756 million) for the period. For the same period in 2023, the company reported a profit of RMB 9.178 billion ($1.26 billion). LONGi says it has increased investment in PV end-market products and services, leading to a Year-over-Year (YoY) increase in module sales. Its revenues lagged, however, due to a mismatch between supply and demand across the industry, along with significant declines in market prices. Additionally, reduced investment returns from affiliated silicon material companies and an expected inventory impairment provision of RMB 4.5 billion to RMB 4.8 billion ($619 million to $660 million) further pressured short-term earnings, the company said.

AIKO to report H1 2024 net loss of up to RMB 2B: Solar cell and module manufacturer AIKO has released its financial forecast for H1 2024. The company expects to report a net loss of RMB 1.4 billion to RMB 2 billion ($192.55 million to $275.07 million) for the period. This compares to a profit of RMB 1.31 billion ($180.00 million) for the same period last year. The company cites increased market competition declining product prices, and significant increases in inventory devaluation as the main reasons for the negative results. At Intersolar Europe 2024, AIKO signed an ABC module procurement contract with Germany’s HDG Technik GmbH (HDG) (see China Solar PV News Snippets ).

Tongwei to report up to RMB 3.3B net loss for H1 2024: Tongwei Solar’s parent company, Tongwei Co., Ltd., as part of its financial forecast for H1 2024, has announced that it expects to incur losses of RMB 3 billion to RMB 3.3 billion ($412.33 million to $453.84 million) for the period. This is in stark contrast to the RMB 13.27 billion ($1.82 billion) profit it reported for H1 2023. Tongwei pointed out a significant growth in sales volumes of high-purity crystalline silicon and solar modules, while sales of solar cells remained steady due to upgrades in some production capacities. However, its PV business suffered losses due to a substantial and prolonged drop in market prices across the industry. Last month, Tongwei was named the top brand for aquatic products and photovoltaics by the World Brand Lab (see China Solar PV News Snippets ).

HY Solar forecasts H1 2024 net loss of up to RMB 1.1B: As part of its financial forecast for H1 2024, solar module manufacturer HY Solar has announced it expects to report a net loss of RMB 800 million to RMB 1.1 billion ($110 million to $151 million). In H1 2023, the company had reported a profit of RMB 1,109 million ($152.40 million). The company attributes the losses to structural adjustments within the PV industry, resulting in intensified market competition and reduced profitability due to pricing pressures.

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.

Awards & Certifications

JA Solar named RETC’s Highest Achiever for the 5th time: Vertically integrated solar module manufacturer JA Solar has been named the Highest Achiever in RETC’s 2024 PV Module Index for the 5th consecutive year. The Renewable Energy Test Center (RETC) PV Module Index evaluates the performance, reliability, and quality of PV modules from leading manufacturers worldwide. JA Solar says that this recognition is a testament to its commitment to excellence and innovation. As of the end of Q1 2024, the company’s cumulative PV module shipments totaled over 201 GW globally, with its products in use in residential, commercial, and utility-scale projects in more than 165 countries. JA Solar recently forecast a net loss for the first 6 months of 2024 (see China Solar PV News Snippets ).

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.

Jinko Power’s 1st green certificate transaction: Jinko Power has announced that it has completed its first green certificate transaction. The company says that this transaction, equating to the consumption of 7.2 million kWh of green electricity and reducing CO2 emissions by approximately 5,150 tons, marks a significant step in its expansion into green certificate application scenarios. Jinko reported that it has aggregated over 20 MW of distributed PV capacity in Zhejiang Province for market-based green electricity trading and has completed about 2 million kWh of green electricity transactions.

Investigation

China launches investigation into trade barriers: The Chinese Ministry of Commerce has launched a ‘barrier investigation’ into the practices adopted by the European Union (EU) in its investigation of Chinese companies under the Foreign Subsidies Regulation (FSR), including solar PV producers.? The decision follows an application filed by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) requesting a trade and investment barrier investigation against the EU. It mainly involves the EU’s FSR investigation into rail locomotives, photovoltaics, wind power, and security inspective equipment. ?Details of the investigation launch in Chinese are available on the Commerce Ministry’s website .?For complete story, click here .

TAIYANGNEWS SPECIAL WEBINAR ON GLOBAL SOLAR MARKET DEVELOPMENTS: H1 REVIEW & H2 OUTLOOK

#BlockJuly18

The 2024 editions of the world’s largest solar shows, SNEC in Shanghai and The smarter E / Intersolar Europe in Munich, which took place in June, provided plenty of data points to analyze global solar developments in the first half of 2024 and take a fresh look into what to expect in terms of demand, supply and prices in the coming months.

Moderated by Managing Director Michael Schmela, TaiyangNews will host a Special Webinar on July 18, 2024, from 10:00 to 11:30 CEST, where leading stakeholders from manufacturing, market research and industry lobby will discuss these data points and more.

We would like you to attend this special Webinar. Here is the link for free registration: https://taiyangnews.info/july-18-2024-global-solar-market-developments-h1-review-h2-outlook/

Do #register & be there for an interesting discussion.

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