CHINA SOLAR PV NEWS UPDATE: WEEK 30

Our Weekly China Solar 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. If you are interested in weekly solar updates on China, please subscribe. For our global daily newsletter, check our website https://taiyangnews.info/

MARKETS

NEA releases PV power generation construction and operation details on H1/2023:?Issuing the Construction and Operation of Photovoltaic Power Generation for the first half of 2023, the National Energy Administration (NEA) of China said:

• China’s new grid-connected capacity is 78.4 GW. Among them, the centralized type is 37.4 GW, the distributed type is 40.9 GW in total, and the household distributed type is 21.5 GW

• As of the end of June 2023, the cumulative grid-connected solar capacity was 470 GW, out of which the centralized share contributed 271 GW and the distributed type was 198 GW

Last week, NEA had released national power industry statistics on its website for the period from January to April 2023 (see?China Solar PV News Snippets ).

China To Account For 40% Of Global Solar Installations That Are Expected To Grow To 350 GW This Year: The China Photovoltaic Industry Association (CPIA) has raised the forecast for annual solar PV installations for China in 2023 to between 120 GW to 140 GW, after the country reported having added 78.42 GW within H1/2023. China is likely to account for around 40% of global PV capacity this year which the CPIA expects to fall within 305 GW to 350 GW (see CPIA Raises Solar Installation Forecast 2023 ).

China PV cumulative installed capacity exceeds 470 GW:?The Director of the New Energy and Renewable Energy Department of the National Energy Administration of China said that China’s?newly installed photovoltaic capacity has ranked first in the world for 10 years; and the new total installed capacity has ranked first in the world for eight consecutive years. He added that in the first half of 2023, the cumulative installed capacity has exceeded 470 million kilowatts, making it the second largest power source in China (see?China Solar PV News Snippets ).

Cumulative output of PV rolled glass at 11.565 million tons in H1/2023 in China:?Announcing the operation of the photovoltaic rolling glass industry from January to June 2023, the Ministry of Industry and Information Technology of China said that during this period:

• The cumulative output of photovoltaic rolled glass was 11.565 million tons, an increase of 68.7% year-on-year, of which the output in May was 2.034 million tons, an increase of 48.2% year-on-year.

• The average price of 2mm photovoltaic rolled glass was RMB 18.5/square meter ($2.5/square meter), down by 11.7% year-on-year; and the average price of 3.2mm photovoltaic rolled glass was RMB 25.6/square meter ($3.58/sq meter), down by 5.4% year-on-year.

SPIC to build ‘world-class’ PV industry:?At the High-Quality Development of First-Class Photovoltaic Industry forum of the 24th China Qinghai Green Development Investment and Trade Fair, China State Power Investment Corporation (SPIC) released the declaration on building a world-class photovoltaic industry, local media reported. As per the declaration, by 2025, the installed capacity of SPIC’s photovoltaic power generation will exceed 100 GW and that SPIC will build a world class PV industry, with the largest photovoltaic installed capacity and leading core technologies, the reports added.

TECHNOLOGY

Certification / Cell & Module Efficiency

Jinchen Solar HJT cell efficiency clears third-party certification:?Chinese production equipment supplier Jinchen Solar announced that the conversion efficiency of its industrialized heterojunction has touched 25.35%, which is considered an advanced level in the industry. This efficiency has been certified by the Institute of Electrical Engineering, Chinese Academy of Sciences with CNAS qualification. The company added that it had used its self-developed large-cavity PECVD and PVD equipment to establish a pilot R&D line for heterojunction solar cells, and then to develop high-efficiency heterojunction solar cells.

UtmoLight’s perovskite module efficiency included in NREL efficiency charts:?China based solar technology company Wuxi Utmost Light Technology Co Ltd said via WeChat that the steady-state efficiency of its 18.6% (809.9cm2) large-scale perovskite modules has been included in the latest version of NREL’s Champion Module Efficiencies Photovoltaic Modules world record chart. This is the second time this efficiency has been affirmed by an international authoritative organization. Prior to this, the efficiency was also featured in Martin Green’s Solar Cell Efficiency Tables Photovoltaic Efficiency world record list. Earlier this month, Germany’s TüV SüD had certified UtmoLight’s 17.18% efficiency claim for mass-produced perovskite mini module (see?Perovskite Commercial Efficiency Milestone ).

BUSINESS

Production / Cells & Modules

Xinshengmei New Energy 2 GW PV module fab to begin construction:?New energy technology research and development company Xinshengmei New Energy said via WeChat that it has signed an agreement with Fuping County to begin construction of its 2 GW PV module facility. With an investment of RMB 770 million ($107.6 million), the facility is being built in two phases. Once completed and put into production, the facility is expected to generate an output value of about RMB 4 billion ($0.56 billion). The first phase will focus on infrastructure and equipment purchase, while the second will be for scale-up and new product development. The entire construction is supposed to last for a year.

Bangjie Shares to invest in 10 GW PV modules capacity and R&D center:?Seamless garment design company Bangjie Shares said in an announcement that it will be investing in a 10 GW high-efficiency photovoltaic modules and a R&D center. For this, the company has already signed an agreement with Management Committee of Yangzhou Economic Development Zone. The total investment will be about RMB 1 billion ($0.14 billion). The investment in the first phase will be about RMB 250 million ($34.7 million) and will concentrate on the construction of 4 GW high-efficiency photovoltaic module facility, leased factory buildings, and investment in production equipment. Later, as per the progress of the first phase, subsequent production capacity and R&D center projects will be launched.

GCL Integration to raise funds for cell and storage systems:?Chinese solar PV cell and module manufacturer GCL Integration announced that it will be raising funds to the tune of RMB 5,799 million ($811.8 million). The net proceeds after deduction of issuance expenses will then be used towards:

• Phase 2 of Wuhu GCL 20 GW high-efficiency cell facility, which is of 10 GW

• Shenghao New Energy Development (Xuzhou) Co., Ltd.’s annual production of 10 GWh smart energy storage system project and supplementary working capital

Recently, Bloomberg had reported GCL Technology’s plans to venture beyond China to establish its 1st polysilicon manufacturing fab outside the home turf (see?GCL Looking For Silicon Expansion Outside China ).

Production / Cells & Modules/ TOPCon

Astronergy’s Ningxia Yanchi manufacturing fab ready:?PV module manufacturer Astreonergy said via WeChat that its Ningxia Yanchi manufacturing facility will be put into use soon. This is the first TOPCon photovoltaic module manufacturing facility in Ningxia Hui Autonomous Region, and also the company’s eighth smart manufacturing facility. The construction began in May 2022 and the first phase of 1 GW TOPcon modules is expected to be completed and put into production by August 2023. Recently, Astronergy had shared news of raising RMB 2 billion (see?China Solar PV News Snippets )

Production / Cells & Modules/ HJT

Risen expects mass-produced HJT cells to touch 3 GW:?Chinese solar panel maker Risen Energy said that its production capacity of mass-produced heterojunction cells may nearly touch 3 GW in 2023, local media reported. The company’s first mass production line of heterojunction has introduced technologies that have been verified and matured on the pilot line. And this includes double-sided microcrystalline technology, thin silicon wafer technology, and low-silver paste technology. The report also said that the average efficiency of Risen’s recently produced 210-size half-cut ultra-thin heterojunction solar cells has reached 25.4%, the yield rate of the production line is at 98.5%, and the output capacity is close to the design limit.

Tongwei Solar THC production line developed:?Integrated solar PV manufacturer from China, Tongwei Solar announced that its THC production line based on HJT technology has completed the development of double-sided nanocrystals. The current highest efficiency is 26.49%, the module power is 732.6 W (210 size 66 pieces), and the yield rate is over 97%. The company went on to add that in order to further enhance the market competitiveness of THC products, it is putting the development of copper interconnection technology research on fast track, and is focusing on advancing the GW-level copper interconnection test work in an orderly manner. Last month, Tongwei module from Yancheng had passed TüV Nord certification (see?China Solar PV News Snippets )

Zhengye Technology discloses investment progress:?Industrial inspection equipment producer Zhengye Technology announced the progress of its investment in 5 GW PV modules and 8 GW heterojunction photovoltaic cell facilities. Here are the details:

• First phase of 1 GW photovoltaic module production has been installed, commissioned and officially put into production.

• The remaining 1 GW of photovoltaic modules and 1 GW of heterojunction solar cells, which are in the first phase, are expected to be delivered by the end of September this year.

• Among them, the 1 GW photovoltaic module production line is expected to begin construction within one month after the delivery of the plant, and enter the commissioning period after four months.

• The 1 GW heterojunction solar cell production line will be completed and put into operation within 9 months after the start of construction, and reach production within 3 months after the start of production.

The company had made the announcement of this investment in 2022 (see?China Solar PV News Snippets )

Production / Silicon Wafers

Trina 50 GW wafer facility settled in Huai’an:?Chinese solar module manufacturer Trina Solar announced that it held the signing ceremony for a 50 GW monocrystalline silicon wafer facility in Huai’an. Once the facility is put into production, the annual output value is expected to be about RMB 30 billion ($4.1 billion). In the month of April, Trina Solar announced via WeChat that its Huai’an 10 GW Vertex 210+n facility has produced the first module (see?China Solar PV News Snippets )

Production / Production Equipment

S.C New Energy develops Textile Plus series equipment: Solar PV production equipment manufacturer S.C New Energy Technology announced over WeChat that is has developed advanced Textile Plus series equipment. This series is based on latest technology and has upgraded equipment structure and production process, leading to improvement in the microstructure of the cell surface, the cleanliness of the silicon wafer surface, and the reduction of surface pollution, thereby improving conversion efficiency.

Supply / Cells & Modules & Trackers

Trina to supply Vertex modules & trackers to Israel Teralight:?Over a WeChat communication, Chinese solar module manufacturer Trina Solar said that it has signed a deal with Israel’s photovoltaic power plant developer Teralight to provide 150 MW Vertex modules and tracking systems. These modules and tracking systems will be used in the Ta’anakh photovoltaic facility located in Jazrel Valley in northern Israel. With a total installed capacity of 250 MW, the facility will be built in phases and is expected to be completed by 30 June, 2024. Trina Solar Vertex modules and trackers will be mainly used in the first phase of 150 MW. Trina presented about how to address today’s market demand at the recent TaiyangNews Solar Market Overview 2023 webinar (see presentation?here ).

Supply of Trina Vertex modules for hydro-solar power plants begins:?Chinese solar module manufacturer Trina Solar announced that it has begun the supply of 463.18 MW of Vertex 580W modules to the Xigu and Xieka hybrid hydro-solar power plants in Sichuan province. These high-efficiency modules, based on innovative 210 rectangular wafer (210R) technology, offering higher string power, greater system capacity and higher energy yield. Invested by Sichuan Jiulong New Energy Co Ltd, both the plants will be promoting green energy and environmental protection, and act as a driver of economic growth. In the recently concluded TaiyangNews Solar Market Overview 2023 webinar, Trina’s Product Manager Lukas Ye had spoken about addressing today’s solar market demand from supply side (see?TaiyangNews Solar Market Overview 2023 Webinar )

Supply / Silicon Wafers

TCL Zhonghuan ships over 100 GW of 210 silicon wafers:?Leading solar wafer supplier TCL Zhonghuan said via WeChat that its cumulative shipments of 210 silicon wafers has exceeded 100 GW. The company had first released 210 large-size silicon wafers in 2019, and now expects to touch 180 GW silicon wafer capacity by the end of 2023. In the recent performance forecast released by the company, the profit is expected to increase of 53.7% to 60.42% yoy (see?China Solar PV News Snippets )

Financial Results

Gaoce forecasts over RMB 700 million profit:?Disclosing its half-yearly performance forecast for 2023, wire cutting machine producer Qingdao Gaoce Technology said that it expects the estimated net profit to be around RMB 700 million to 720 million ($97.9 million to $100.7 million), a year-on-year increase of 195.42% to 203.86%. The company attributed the following reasons behind its H1/2023 growth:

• The photovoltaic industry continued to be bullish, maintaining strong market demand

• The company’s diamond wire production technology continued to improve, leading to rise in diamond wire production capacity and the shipments

• The company’s silicon wafer cutting and processing services have been showing progress, with continuous release of production capacity and acquiring strong orders

• The company’s semiconductor, sapphire and magnetic material innovation business equipment and consumable products saw a steady increase in orders

Trina Solar forecasts semi-annual results:?Disclosing its semi-annual performance forecast, module manufacturer Trina Solar said that it expected the net profit in the first half of 2023 to be around RMB 3.3 billion to RMB 3.7 billion ($0.46 billion to $0.52 billion), a year-on-year increase of 162.14% to 195.61%. The reasons for this growth, the company said is because:

• The photovoltaic product business developed rapidly during this period as compared to previous year, leading to rise in shipment volume and sales revenue of photovoltaic modules

• Benefiting from the substantial increase in the company’s advanced production capacity, the proportion of sales of high-power 210 series photovoltaic products rose significantly compared with the same period last year

• At the same time, benefiting from the gradual release of the company’s upstream silicon wafer production capacity, the comprehensive cost of products further decreased

• The company’s strategic layout in the photovoltaic industry chain in the early stage also began showing results during the reporting period

Sineng Electric registers whooping 488.5% rise in profits in H1/2023:?Disclosing its 2023 semi-annual report, China headquartered global solar PV inverter supplier Sineng Electric said that it has achieved an operating income of RMB 2.1 billion ($0.29 billion), a year-on-year increase of 416.5%. The net profit too saw a year-on-year rise of 488.5% and was at RMB 135 million ($18.9 million). The largest source of income was from photovoltaic inverter business, which achieved an operating income of RMB 1.3 billion ($0.18 billion), a year-on-year increase of 275.5%. In October 2022, the company had appointed Derek Huang as the company’s new president of European business (see?Chinese Solar Inverter Firm Hires New Europe Head ).

Financing & IPOs

Keqiang Shares IPO passes BSE review:?In the recently announced results of the 37th review meeting of Beijing Stock Exchange Listing Committee 2023, local reports said that private joint-stock enterprise Keqiang Shares has met the issuance conditions, listing conditions, and information disclosure requirements, and has passed the meeting. This is apparently the 35th company to pass the meeting on the Beijing Stock Exchange in 2023. Keqiang Shares’ mainly deal in photovoltaics products and its flagship product include solar silicone panels, whose downstream customers include LONGi, Canadian Solar, JinkoSolar, JA Solar, Jinchen Solar, GCL Integration.

Astronergy raises RMB 2 billion:?In an announcement, PV module manufacturer Astronergy said that it has completed its C round of investment and about RMB 2 billion ($0.28 billion) was raised in this round. The investors include Sparkedge Capital, among others. The company also went on to add that it expected its photovoltaic module production capacity to touch 50 GW by the year end, of which TOPCon will be about 38 GW, and photovoltaic cell production capacity will be about 45 GW. In the recently released TaiyangNews Top Solar Module Listing for July 2023,?Astronergy’s Astro N5 series, built with 144 half cut cells and 182 mm wafer format is still in 7th?position with the same 580 W power (see?Top Solar Modules Listing – July 2023 ).

Prices / Silicon Wafers

LONGi releases silicon wafer prices:?Announcing the prices for monocrystalline silicon wafers, Chinese vertically integrated solar PV company LONGi said that the price of its monocrystalline silicon wafer P-type M10 150μm thickness (182/247mm) was at RMB 2.93/pc ($0.41/pc). This is the same as the last announcement (see?China Solar PV News Snippets )

TAIYANGNEWS PRICE INDEX

Weekly Overview On Prices For Polysilicon, Wafers, Cells, Modules & Solar Glass

After several weeks, calendar week 30 was the first without any price decreases in our TaiyangNews PV Price Index.?While silicon experienced another uptick, the downward trend for modules paused as well.