Chinese PV Market Short: 4.3 GW of brand-new cell capacity and also a 1 GW solar park

• Cell manufacturer Aiko Solar is raising funds to raise its manufacturing capacity with 4.3 GW of new lines while Datang Company has tattooed a bargain for a 1 GW desert job.

Shanghai-based solar cell producer Aikosolar on Tuesday announced it intends to increase RMB2.5 billion (US$ 350 million) with an exclusive shares issuance. The firm stated it desires RMB1.75 billion for 4.3 GW of brand-new production centers based upon wafers ranging in dimension from 180-210mm. A further RMB300 million will certainly be purchased an R&D facility as well as the staying funds will be made use of for working capital. Aikosolar is intending to broaden its cell production capability to 22 GW this year, 32 GW next year and also 45 GW in 2022.

State-owned energy firm China Datang Firm has actually revealed the finalizing of a contract with the city government of the Alxa Organization division of Inner Mongolia for the construction of a 1 GW solar plant. Datang, which ran 2.6 GW of solar park capability at the end of last year, says the desert task will require RMB4 billion.

Polysilicon maker GCL-Poly Energy Holdings' quote to elevate HK$ 269 million (US$ 35 million) by releasing 1.3 billion brand-new shares has actually lapsed as a result of an undefined problem for the fundraising workout not being in area. The stock exchange update introducing the plan, issued on April 28, mentioned the GCL board would have to pass a resolution backing the relocation as well as the listing board of the Hong Kong exchange would additionally have to authorize.

Chinese-Canadian panel manufacturer Canadian Solar reported strong financials for the initial quarter. The Ontario-headquartered company published three-month web earnings of US$ 111 million, up from a US$ 17.2 million loss in the exact same period a year earlier, as web earnings soared 70% to US$ 826 million, exceeding advice for the very first three months of 2020. The company connected the profits growth to higher component shipments and also job sales, partly countered by a decline in module average asking price. Total module shipments increased 41%, year-over-year, to 2.2 GW, according to assumptions.

Chinese tracker system carrier Arctech Solar has announced it gave 575 MW of trackers for the Ibri II project in Oman. The developer is Saudi power titan Acwa Power. The project will certainly utilize Arctech Skyline (1P) trackers.