JYT books US$ 2.6 billion of large-area mono-wafer orders

• Beijing Jingyuntong Technology Co (JYT) has safeguarded 4 significant large-area mono-wafer orders from PV module as well as solar cell manufacturers amounting to around RMB 16.78 billion (US$ 2.6 billion) in the last few weeks.

The mixed 4 customer orders account for around 3.94 billion large-area wafers with supply beginning in January 2021 through to the end of 2023.

The biggest order got was from Solar Module Super League (SMSL) participant JA Solar which was valued by JYT to be over RMB4.8 billion throughout the three-year contract.

JA Solar has actually historically satisfied its wafer demand in-house with revealed strategies to take ingot/wafer ability to virtually 60GW in numerous stages over the following few years, up from 11.5 GW of nameplate capacity in 2019. The manufacturer's order was introduced on 7 January and is for about 1.26 billion wafers.

Significant vendor solar cell producer Tongwei Solar (Chengdu) Co put the second largest order, also filed on 7 January 2021, for around 960 million wafers, valued by JYT to be roughly RMB5.261 billion over the three-year contract.

Tongwei has formerly protected the majority of its wafer needs from long-term tactical companion LONGi Group.

The 3rd largest order was put by Jiangsu Runyang Yueda Photovoltaic Technology Co (Runyang) worth RMB3.689 billion over the three-year agreement, representing around 946 million wafers. This order was also signed on 7 January 2021.

Jiangsu Xinchao Photovoltaic Energy Development Co (Xinchao PV) positioned the smallest of the 4 orders on 23 December 2020 as well as was valued by JYT to be worth around RMB3 billion. JYT will supply a total of around 774 million wafers over the three-year contract.

JYT had actually gone into the mono wafer market in 2017, ramping a 5GW ingot/wafer center in Wuhai City, Inner Mongolia.

In March 2020, JYT revealed plans to increase capacity at the facility by a further 10GW. Nonetheless, in November 2020, JYT introduced it would certainly build a 24GW ingot/wafer facility in Leshan City, Sichuan Province, dedicated to 210mm large-area wafer manufacturing.

The total financial investment in the big facility was said to be around RMB7 billion (US$ 1.0 billion), which would certainly be built in two 12GW stages. The new project might take a number of years develop and afterwards totally ramped, according to the firm.

It should be noted that the initial 5GW wafer plant did not have any kind of meaningful effect on revenue growth over the course of the three years it took to ramp.

Nevertheless, from the first 9 months of 2020, it is clear that the wafer service revenue has made a purposeful payment and also is readied to become the essential chauffeur of earnings growth going forward.