Late final week (22 September), Tongwei introduced that it deliberate to signal an funding settlement with the administration committee of Yancheng Financial Improvement Zone to cooperate on the event of a 25GW high-efficiency PV module manufacturing base within the zone.
Tongwei mentioned the challenge isn’t anticipated to have a major affect on the corporate’s 2022 working income and web revenue.
Representing an estimated funding in fastened belongings of roughly RMB4 billion (US$560 million), the challenge is predicted to start building inside 24 months of buying the mandatory land and required procedures for the Zone, which has turn into a key strategic web site for the photo voltaic PV trade in recent times.
Following this announcement, Yancheng Metropolis has fashioned a complete PV trade chain from the provision of upstream uncooked supplies to the manufacturing of cells and modules. As well as, it is usually residence to manufacturing capability for sensible PV manufacturing tools, inverters, aluminum frames, brackets, welding belts and different supporting hyperlinks.
Yancheng Metropolis plans to realize a manufacturing capability of 150GW for cells and 100GW for modules throughout China’s 14th “5-Yr Plan” that runs from 2021-2025 and can see sturdy coverage help from the Chinese language state, which not too long ago referred to as on the nation’s PV trade to “develop strategic alliances”.
Tongwei mentioned that the right growth of the module hyperlink will help its benefits within the discipline of high-purity silicon and photo voltaic cells, forming a extra aggressive industrial construction because of this.
For the reason that acquisition of Tongwei Photo voltaic (Hefei) Co. in 2016, Tongwei has established some module manufacturing capability and is at the moment within the operating to safe the fifth module procurement round of Hong Kong vitality firm China Sources Energy.
As well as, on September 6, Guangdong Electrical Energy Improvement Co. introduced the candidates for the third batch of PV module procurement in 2022, with the primary place going to Tongwei Hefei, with a bid worth of RMB396 million (US$55 million) and an unit worth of RMB1.981/W (US$0.28c/W).
Furthermore, on September 20, Tongwei was the one successful candidate of the forty fourth batch of 2022 centralised bidding (the procurement of shingled modules for Sichuan Ganzi Zhengdu Photovoltaic Empirical and Experimental Base Challenge) was revealed by the State Energy Funding Group Co. Tongwei received with a unit worth of RMB1.97/W (US$0.28c/W).
At Tongwei’s efficiency report assembly in late August, Yi Xie, chairman of Tongwei, mentioned the corporate’s module enterprise planning was primarily based on the requirement of the nationwide double carbon aim and the strengthening pattern of commercial integration, including that the corporate will observe the pattern and take into account additional experiments and planning within the module enterprise.
Benefiting from excessive silicon costs, Tongwei has recorded very sturdy efficiency within the first half of the 12 months. Its income and web revenue each hit document highs and topped the record with a complete income of RMB60.3 billion (US$8.43 billion), surpassing LONGi Inexperienced Power for the primary time.
PV Tech can be internet hosting a webinar together with Tongwei Photo voltaic exploring how the corporate’s photo voltaic shingled modules can increase reliability and output. This can be held on 18 October at 10am EDT/ 4pm CEST and you’ll register for the event here.
