Geely opens polysilicon plant – pv magazine International
Automaker Geely commissioned a new polysilicon plant in northern China, while ET Solar opened a new 5GW wafer plant in Vietnam. Poly giant GCL Technology, meanwhile, has confirmed that its board may issue common stock for a Chinese listing.
Geely Automotive announced that its first polysilicon manufacturing facility has started production in Gucheng, Hebei Province. The plant currently has an annual capacity of 2,000 metric tons (MT) and is expected to reach 52,000 MT by the end of this year.
AND Solar signed an agreement for the construction of a 5 GW wafer plant with the government of Thai Binh province, Vietnam. This is the module maker’s second investment in the Southeast Asian country, where it already produces both cells and modules. The panel maker said it would invest around $600 million in the new plant.
Xinte, a solar developer owned by TBEA, revealed that an unnamed person responsible for a 200 MW agrivoltaic project under construction in Hebei province has been detained by authorities. The project in Xingtang County, near the city of Shijiazhuang, has been suspended pending an ongoing investigation by authorities into “the alleged crime of sabotaging production and/or other business operations”. . Xinte said a unit of its subsidiary TBEA Xinjiang Sunoasis encountered problems during the clearing of the solar park, including “inadequate mass works, irregularities in the procedure for signing contracts, [and a] lack of supervision and illegal construction. The company said 14 villagers had not ceded land for the construction of the power plant. He warned that the project may not reach the planned scale due to a reduction in the amount of land available, but said he would “seriously examine and learn profound lessons” from the incident.
GCL Technology confirmed that its board of directors was considering issuing ordinary shares for listing on a Chinese stock market. Polysilicon maker’s solar projects business, GCL New Energy, has been awarded a three-year contract extension for its $500,000 annual contract to provide asset management and administrative services to fellow GCL Tech, GCL Solar Energy. Under the terms of the agreement, GCL New Energy will manage New Energy’s solar parks in the United States and South Africa.
Irico New Energy has signed an agreement to supply CNY 2.02 billion ($303 million) of its glass products to panel maker GCL System Integration, in a deal that will run until April 2024. The news came after the solar panel maker announced it would pay CNY 7.95 million for auxiliary furnace fans and CNY 6.44 million for property services to two other subsidiaries of its state-owned parent company, China Electronics Co.
Beijing Energy International has awarded a CNY 535 million engineering, procurement and construction services contract to Shanxi Electric Power Design Institute for the construction of a 100 MW solar power plant in Lingshi County, Shanxi Province. Beijing Energy International said it hoped construction would be completed by December. The state-owned PV developer also said it would raise 85 million yuan by leasing solar power plants to Beijing Jingneng Leasing, which is controlled by its majority shareholder, Beijing Energy Holding. Beijing Energy will pay a fee of CNY 102 million over a six-year period to lease the sites.
IDG Energy Investment Chairman Wang Jingbo was replaced as CEO by Liu Erzhuang. Wang remains executive director of the energy investor, which has entered the solar cell manufacturing business. Renewable energy developer Beijing Enterprises Clean Energy also reported changes after it completed the issuance of 77% of its shares to state-owned China Shandong Hi-Speed, which became its largest shareholder. Beijing Enterprises raised HKD 4.69 billion ($598 million) from the exercise, with chairman Zhang Tiefu being replaced by Wang Xiaodong. General manager Yang Guang also resigned and has not yet been replaced.
Kong Sun Holding joined the list of solar developers selling assets to public entities. At the annual general meeting on June 24, shareholders will vote on whether to raise 529 million yuan by selling solar projects, which would leave Kong Sun with 390 MW of generating capacity, up from 509 MW at the end of April. The move would also reduce its debts by CNY 819 million, transferring the projects to Zhongyuan Xinhua Water Resources and Hydropower Investment.
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