Chinese manufacturer, Jinchen Machinery has announced the receipt of solar module production line orders of about 10 GW from India in 2021. Out of total orders, it has already installed 2 GW of equipment while the remaining capacity will be supplied over the next 2-3 months. The company also plans to open its office in Surat, Gujarat by August 2021, to serve its Indian customers.
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VRB Energy has announced the signing of a framework agreement for a 100 MW solar photovoltaic and 100 MW / 500 MWh vanadium flow battery integrated power station project in Xiangyang city in the Hubei Province of China. Additionally, the agreement also includes the construction of the first 50 MW per annum of a new 1,000 MW per annum “Gigafactory” manufacturing facility for the company’s energy storage systems, and a vanadium flow battery intelligent energy research and development institute.
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Chinese polysilicon producer Xinte Energy has secured a polysilicon supply contract with a new entity, Qinghai Gaojing Solar Energy Technology. Xinte Energy will supply Qinghai Gaojing Solar Energy Technology Co with a total of 152,400 metric tonnes of polysilicon from July 2021 to December 2025 with prices being negotiated monthly. It is estimated that the contract could generate revenue of approximately $2.6 billion over the four and a half year agreement.
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A unit of GCL-Poly Energy Holdings Ltd. defaulted on a $500 million bond after ending an exchange offer with existing bondholders. GCL New Energy Holdings Ltd. announced the default in an exchange filing. The firm, which operates solar power plants, is majority owned by GCL-Poly, one of the world’s leading makers of solar-grade polysilicon, and whose shares have soared 700 per cent since China announced plans to be carbon neutral by 2060.
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Xinyi Glass Holdings, the parent of PV glass business Xinyi Solar, has made a HKD1.65 billion (USD212 million) takeover offer for China Glass Holdings Ltd. The offer includes buying out China Glass’s all issued 1.81 billion shares.
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Trina Solar has announced that it has agreed to form a joint venture with Sichuan Yongxiang Company Limited, a subsidiary of the Tongwei group, to upgrade their 210 industrial series solar modules. The move is expected to create a stronger supply chain in the future.
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China’s National Energy Administration (NEA) has reported that a record level of residential solar was added in the world’s biggest market last month, with at least 1,301 MW installed on rooftops. The latest numbers took the total capacity installed in the first nine months of the year to 5.27 GW. The figure is based on arrays included on the national subsidy list so the true number could be even higher.
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