Chinese PV Industry Brief: Record residential solar installs and rumblings in the polysilicon market – pv magazine International

The NEA has revealed more than 1.3 GW of solar capacity was added to Chinese rooftops last month, with more than 500 MW of it in Shandong province. While poly maker Daqo was forced to revise down its latest sales forecast it predicted a quick rebound in the current quarter.

October 20, 2020

The National Energy Administration (NEA) yesterday reported 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 figure is based on arrays included on the national subsidy list so the true number could be even higher. Shandong again led the way, with 560 MW of new residential solar, ahead of Hebei and Henan provinces, with 312 MW and 134 MW, respectively. The latest numbers took the amount of residential PV installed in China in the first nine months of the year to 5,274 MW.

Solar manufacturer Trina Solar this morning announced it has started construction of a 100 MW solar plant in the Hainan prefecture of Qinghai province. The 1.78km facility is being developed with a state-owned asset investment body affiliated to the provincial government. The project will feature Trina’s mono PERC modules, string inverters, and fixed adjustable supporting racks and is expected to generate around 180 GWh per year.

Inverter maker Ginlong Solis today reported revenue of RMB624 million (US$93.4 million) for the last quarter, up 72% on last year’s third-quarter figure. Gross earnings rose 120% on the same comparison, to RMB92 million, and the year-to-date figures reflected similar growth with sales revenue in January-to-September up 74% to RMB1.35 billion and gross earnings up 189% to RMB210 million.

Hong Kong-listed Irico New Energy yesterday announced plans for a potential A-share IPO, subject to board and shareholder approval. The solar and energy storage manufacturer, PV glassmaker and project developer is part of the wider TV and electrical group Irico.

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Polysilicon company Daqo on Friday downgraded its third-quarter sales forecast, from the previous 17,000-17,500 metric tons to 13,643. The company said a rapid rise in the price of polysilicon – from US$7-7.50 per kilogram in the second quarter to the current US$11.50-12.50 – had delayed orders in the last three-month window but expected the surplus stock to be cleared in the current quarter, due to strong demand. As a result, Daqo also upgraded its annual production forecast, from 73,000-75,000 tons to 75,000-76,000.

Fellow poly maker GCL-Poly Energy Holdings on Friday took the unusual step of issuing an announcement to the Hong Kong exchange to clear up social media-related speculation about its plans for an 80,000-ton granular silicon facility in Sichuan province. GCL said Wu Guojing and Fu Xuguang, employees of its Jiangsu Zhongneng Polysilicon Technology Development Co Ltd subsidiary, hold the entire equity in the owner of the Leshan Sumin business which will carry out environmental assessments for the proposed site, on behalf of Jiangsu Zhongneng.

PV manufacturer Solargiga, which recently took a hefty hit on its decision to shutter its cell manufacturing operations, has reported an 80% rise on shipment volumes for the first nine months of the year. The company said it shipped 4.79 GW of product to the end of September, compared to 2.66 GW in the same period of last year. Revenue rose almost 53% on the same comparison, from RMB2.78 billion in January-to-September last year to an, unaudited RMB4.24 billion.

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Source: https://www.pv-magazine.com/2020/10/20/chinese-pv-industry-brief-record-residential-solar-installs-and-rumblings-in-the-polysilicon-market/

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