CHINA SOLAR PV NEWS UPDATE: WEEK 44

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/

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BUSINESS

Production / Cells & Modules

JA Solar commissions 5 GW Baotou module fab: Vertically integrated solar module manufacturer JA Solar has announced that it has commissioned the 5 GW module fab at its Baotou base. The company says that the commissioning of this facility will help it reach a total module production capacity of 95 GW by the end of 2023. JA Solar also announced that it has signed JA Solar a strategic cooperation agreement with Guangzhou Development New Energy Co., Ltd. JA Solar recently announced that its solar module shipments during 9M/2023 totaled 37.63 GW (see JA Solar Reports Strong Financial Growth In 9M/2023).

Production / Cells & Modules/HJT

Golden Solar rolls off 1st batch of 182 half-cut bifacial HJT cells from Jiuquan base: Module manufacturer Golden Solar has announced the successful rollout of the 1st batch of 182 half-cut bifacial heterojunction (HJT) cells from its Jiuquan base. Calling this a new starting point, the company said that its technology research and development center at the base will now focus on improving product quality and improving production line efficiency. The base is expected to enter the ramp-up phase of mass production starting from November 15th.

Leascend Photovoltaic to set up 12 GW HJT solar cell facility in Jiangsu Nantong: Leascend Photovoltaic Techonology Co. Ltd. has announced that it will invest RMB 7 billion ($956.3 million) in the construction of a 12 GW heterojunction (HJT) solar cell facility in Jiangsu Nantong. The company facility will be built in 3 phases of 3 GW, 3 GW and 6 GW respectively. The Phase I, scheduled to complete construction in September 2024, will involve RMB 2 billion ($273.2 million) in investment. The company says that the construction of Phase II and Phase III will depend on the progress of Phase I. This 12 GW capacity will be in addition to the company’s already commissioned 8 GW HJT cell manufacturing capacity in Meishan.

Huasun rolls out 1st batch of 182R HJT cells: Recently, module manufacturer Huasun announced that the 1st cell production line at its 5 GW high-efficiency HJT cell & module production facility Hefei base is complete with the rollout of the 1st batch of 182R cells. Huasun said that adding the 182R products to its Himalaya series product family will bring more diversified application options to global customers. Recently, Huasun announced that it has started operations at its Phase I of the high-efficiency HJT cell fab at its Dali base (see China Solar PV News Snippets).

Production / Cells & Modules/TOPCon

Reesun Solar starts construction on 10 GW TOPCon cell & BIPV facility: Reesun Solar has announced that it has started construction on its 10 GW TOPCon cell and BIPV new building materials facility. The company plans to invest a total of RMB 4.5 billion ($615 million) in the 500-acre facility. The project has newly launched 20 TOPCon cell production lines with an annual output of 10 GW-N type cell. The M10 cell products produced by the project have high passivation technology, high module power and high power generation per watt. They are the most advanced mainstream products in the industry. After the project is fully completed and reaches production capacity, it is expected to achieve annual operating income of RMB 12 billion.

Production / Silicon

Mubang Hi-Tech, DAS Solar and Xinzhou EDZ Management Committee jointly sign investment agreement: Mubang Hi-Tech and DAS Solar have jointly signed an agreement with the Xinzhou Economic Development Zone Management Committee to invest in a 20 GW n-type monocrystalline silicon ingot fab. Mubang Hi-Tech says that the facility, which relies on the 14 GW PV cell production base of DAS Solar, will benefit from complementary advantages of horizontal integration. DAS Solar recently commissioned its 5.5 GW high-efficiency module production facility in Dalat Banner (see China Solar PV News Snippets).

Grand Sunergy starts construction on Dual Carbon Silicon-based Industrial Park Phase I: Grand Sunergy has announced the groundbreaking on the 1st phase of its Dual-Carbon Silicon-based Industrial Park in Ruoqiang County Modern Industry and Trade Logistics Park. The company will invest a total of RMB 30 billion ($4.1 billion) in the 2,720-acre facility, with RMB 12.2 billion ($1.67 billion) allocated for the 1st phase. The facility is expected to produce 50,000 tons of polysilicon, 10 GW of high-efficiency n-type wafers, 5 GW of ultra-thin n-type large-size silicon wafers, 2 GW of high-efficiency heterojunction (HJT) cells, and 2 GW large-size HJT modules. Scheduled to become operational in June 2025, the facility is expected to create 1,200 jobs while generating RMB 7 billion ($956.6 million) in annual revenues for the company.

Supply / Cells & Modules

Trina Solar to supply 700 MW of solar modules to Citicore; releases Q3 & 9M 2023 results: Module manufacturer Trina Solar has announced that it has signed a master services agreement with the Philippines-based Citicore Group for the supply of 700 MW of solar modules. The 2 companies under the Citicore Group’s umbrella are MCC – Citicore Construction, Inc. (MCC-CCI), the engineering, procurement, and construction (EPC) arm, and renewable energy operator Citicore Renewable Energy Corporation (CREC). Under the Agreement, MCC-CCI will purchase 700 MW worth of high-power, high efficiency Vertex DE21 modules for CREC’s upcoming solar plants across the Philippines, to be delivered in 2024. The Vertex DE21 is a 670W+ mono-facial module, compatible with TrinaTracker’s smart trackers.

Separately, Trina Solar also announced its Q3 & 9M 2023 results recently. The company reported that its Q3 operating income increased 41.25% YoY to RMB 31.736 billion ($4.34 billion), while its net profit rose 35.67% YoY to RMB 1.537 billion ($210 million). For 9M 2023, the company’s operating income increased 39.38% YoY to RMB 81.119 billion ($11.08 billion), while its net profit increased 111.34% YoY to RMB 5.077 billion ($693.82 million). Trina Solar recently announced the rollout of the 1st Vertex n-type 2382 mm standard size module from it 10 GW Huai’an base Phase II facility (see China Solar PV News Snippets).

The company also reported that it ranks second globally with module shipments for 9M 2023 exceeding 45 GW. In addition, the company sold 5.6 GW trackers and fixed tilt racks during the period. The company said that its cumulative 210 mm module shipments exceeded 90 GW as of the end of Q3 2023, while cumulative 210R module shipments exceeded 15 GW as of October. On the operational side, the company’s Huai’an base Phase II was put into production mid-October. Also, in October, Trina unveiled its Elementa 2 utility-scale battery system.

Supply / Silicon

GCL Technology’s update on granular silicon business: GCL Technology Holdings Limited has issued an update regarding its granular silicon business. The company says that the proportion of granular silicon used in production by companies like TCL Zhonghuan, LONGi, JA Solar has now surpassed the rod (ingot) shaped silicon. The company notes that it has expanded its granular silicon production capacity from 10,000 MT to 400,000 MT over a short period of 2.5 years, continuing that granular silicon shipments accounted for about 82% of total between January 2023 and September 2023. In September, the company reported that its Hohhot Base with 100,000-ton granular silicon production capacity had started operations (see China Solar PV News Snippets).

Record Efficiencies

Guangyin Technology’s large-area perovskite cell module sets new efficiency record: Guangyin Technology has announced that its module based on a 30 cm × 40 cm large-area perovskite cell has achieved an efficiency of 21.63%, as certified by the National Photovoltaic Industry Measurement and Testing Center. The company says that this is a world record among the currently known 1,000 sq. cm. -level (30 cm × 30 cm and 30 cm × 40 cm) perovskite trans-single-junction solar cell modules. The company says that it is accelerating the advancement of its 100 MW pilot line, which it expects to be up and running by the end of 2024. Auner recently announced that its commercial-grade M6 specification silicon wafers have hit a conversion efficiency of 25.45% (see China Solar PV News Snippets).

GHG EnSOL achieves new TOPCon cell efficiency breakthroughs: GHG EnSOL Renewable Technology has announced that its independently developed n-type TOPCon technology cells have achieved a conversion efficiency of 26.06%. The efficiency achieved by these M10 size (area 333.5 cm2) cells has been certified by the National Photovoltaic Industry Measurement and Testing Center. The cell open circuit voltage is said to be up to 733.3 mV, which is higher than the published highest open circuit voltage of 730 mV for an n-type TOPCon cell. Through the use of laser-assisted technology and poly-finger technology, the company says that the TOPCon cell’s efficiency can exceed 26.8%.

Auner hits 25.45% efficiency for commercial-grade M6 laminated cell: Perovskite/silicon tandem cell manufacturer Auner has announced that its commercial-grade M6 specification silicon wafers have hit a conversion efficiency of 25.45%, according to the China Institute of Metrology. The company says that this result surpasses all crystalline silicon single-junction technology routes and exceeds the efficiency of the NREL crystalline silicon champion module by 0.75 percentage points. Separately, SHARP Corporation has reported 33.66% conversion efficiency for a tandem solar cell module (see World’s ‘Highest’ Conversion Efficiency For Tandem Cell).

Film & PV Cell Packaging Material Facility

Cybrid to set up 50 GW solar film facility in Xuancheng: Polymer material manufacturer Cybrid Technologies has announced that it has signed a framework agreement with the Xuancheng Economic and Technological Development Zone Management Committee to set up a 50 GW solar film + PV cell packaging material facility. To be built in 3 phases, the RMB 500 million ($68.3 million) Phase I will consist of a 6 GW solar film facility. The company stated that this agreement will help it enjoy economies of scale from the heterojunction PV industry cluster in Xuancheng City.

CNBM’s solar new energy industry base starts construction: China National Building Material Group (CNBM) has announced the groundbreaking of the CNBM Anhui Tongcheng Solar New Energy Industry Base. To be built in phases, the base will include a production line for PV cell packaging materials, one for heterojunction (HJT) PV cells, and one for high-efficiency crystalline silicon PV modules. Specifically, the company will invest: RMB 5 billion ($683.4 million) to construct 4 new 1200 t/d ultra-clear rolled substrate glass and supporting solar PV cell packaging material glass deep processing production lines; RMB 1.5 billion ($205 million) in a 3 GW HJT high-efficiency PV cell production base; RMB 3.8 billion ($519.4 million) in a new 25 GW high-efficiency crystalline silicon PV module production base. In July 2023, CNBM had announced the commissioning of its 950 ton high-quality float glass production line (see China Solar PV News Snippets).

Power Stations

Aiko Solar ABC modules to power world’s 1st large-scale power station with shadow shading optimization function: Solar cell and module manufacturer Aiko Solar has announced that it has signed a 400 MW ABC module contract with Zhuhai Huafa Group. The contract comes as a result of the company winning the bid for the Hezhou North 380 MW tidal flat power station project, which is the world’s first ground power station with shadow shading optimization function. According to the contract, the ABC modules will be delivered within the end of 2023.

LONGi donates Hi-MO X6 power station: At an occasion to mark 40 years of photovoltaics (PV) in China, LONGi announced that it will donate a 20 kW Hi-MO X6 PV power station using high-efficiency HPBC cells to Gansu Natural Energy Research Institute. The institute consists of a 40-year old 10 kW power station, which is still operational and is said to be the 1st in China. LONGi says that the proceeds from the donated power station’s grid-connected power generation will also be used for the operation and maintenance of the old power station going forward. LONGi recently reported that its 9M 2023 operating income increased 8.5% YoY (see China Solar PV News Snippets).

Inner Mongolia Energy Group starts construction on 2 solar projects: Inner Mongolia Energy Group has announced the groundbreaking on its 1 GW PV power generation project and the 1.6 GW solar storage + ecological management project in the northeastern part of the Ulan Buhe Desert. The company will invest a total of RMB 12.345 billion ($1.69 billion) in the 2 projects. The project is expected to be grid-connected by the end of 2024.

Financial Results

Canadian Solar reports Q3 & 9M 2023 results: Solar PV manufacturer Canadian Solar has announced that its Q3 2023 operating income decreased 4.32% YoY to RMB 13.014 billion ($1.78 billion). However, the company’s net profit for the period increased 14.57% YoY to RMB 917 million ($125.3 million). For the 1st nine months of 2023, its operating income increased 17.05% YoY to RMB 39.119 billion ($5.34 billion), while its net profit rose 126.02% to RMB 2.840 billion ($388 million). The company attributes the positive performance to increased module shipments and the decline in overall raw material price levels and manufacturing costs, among other things.

LONGi Solar reports 9M 2023 financial results: Module manufacturer LONGi Solar reported that its 9M 2023 operating income increased 8.5% YoY to RMB 94.1 billion ($12.8 billion). The company’s net profit rose 6.4% YoY to RMB 11.6 billion ($1.58 billion) during the period. For the 3rd quarter of 2023, the company reported that its operating income declined 18.9% YoY to RMB 29.4 billion ($4.02 billion), while its net profit attributable to shareholders declined 44.05% YoY to RMB 2.51 billion ($343 million).

JA Solar 9M 2023 revenues up 22% YoY: Vertically integrated solar module manufacturer JA Solar has reported that its revenues rose 22% YoY to RMB 59.98 billion ($8.2 billion) for the 1st 3 quarters of 2023. The company’s net profit rose 106% YoY to RMB 6.8 billion ($929 million) (see JA Solar Reports Strong Financial Growth In 9M/2023).

GCL Integration 9M 2023 net profit rises 240% YoY: PV cell and module manufacturer GCL Integration has reported that its 9M 2023 operating income increased 97.43% YoY to RMB 9.412 billion ($1.29 billion). The company’s net profit rose 240.78% YoY to RMB 142 million during the 1st 3 quarters of 2023. For the 3rd quarter, the company reported an operating income of RMB 3.806 billion, which was up 93.40% YoY from the same quarter last year, while its net profit was up 122.30% YoY to RMB 30.93 million. The company attributed this improvement in performance to order wins, among other things.

Chint Electrics reports positive 9M 2023 results: Solar inverter manufacturer Zhejiang Chint Electrics has reported that its operating income increased about 22% YoY to RMB 42.62 billion ($5.82 billion) for the 1st 3 quarters of 2023. The company’s net profit increased 8.5% YoY to RMB 3.99 billion ($545.3 million) during the period. However, the company’s net profit attributable to shareholders decreased 6.3% YoY to RMB 2.99 billion ($408.6 million). This set of results follows an 18% YoY increase in Chint Electrics’ revenues for H1 2023 (see China Solar PV News Snippets).

Sungrow reports financial results for Q3 & 9M 2023: Solar PV inverter manufacturer Sungrow has reported that its operating income of RMB 17.792 billion ($2.43 billion) for Q3 2023 increased 78.95% YoY increase, while its net profit increased 147.29% to RMB 2.869 billion ($392.07 million) for the period. From the first 9 months of 2023, the company reported a YoY increase of 108.85% in its operating income of RMB 46.415 billion ($6.34 billion), while its net profit increased 250.53% YoY to RMB 7.223 billion ($987.27 million). Sungrow attributes the strong performance to growth in revenue from PV inverters, the energy storage business and new energy investment and development.

Funding & Investments

Tianjiao New Energy gets angel investment for its perovskite products: PV equipment and module manufacturer Xi’an Tianjiao New Energy has announced that it has received angel financing of nearly RMB 100 million ($13.67 million), led by Rongyi Investment. The company plans to use the funds mainly for the construction of its 10 MW pilot production line, among other things. The pilot line is expected to be complete by Q1 2024. The company specializes in single-section perovskite modules.

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