Chinese PV Industry Brief: Risen, Longi announce new solar factories

PV modules
Image: Longi

Longi has signed an agreement with the government of Heshan, Guangdong province, to build a new 10 GW module factory. The company plans to invest CNY 2.5 billion ($352 million) in the new facility, while the local authorities will facilitate its construction by providing factory buildings.

Risen Energy said it will invest around CNY 2.76 billion in a new 10 GW solar cell factory in Chuzhou, Zhejiang province. The panel manufacturer said it will implement its expansion plan in two phases within 36 months.

Daqo has signed a five-year supply agreement for high-purity polysilicon with an undisclosed “leading solar manufacturing company in China.” The Xinjiang-based polysilicon supplier will deliver 148,800 MT of high-purity mono-grade polysilicon from January 2023 to December 2027. Prices will be negotiated by the two parties on a monthly basis, according to market conditions.

Canadian Solar said it recorded $1.93 billion of revenue in the first three quarters of the current financial year, up 57% year on year. It said its net profit rose 59% year on year to $363 million. It said it shipped 6 GW of PV modules in the third quarter and noted that its total module capacity will reach 50 GW by the end of 2023, from around 36.7 GW at the end of this year. Looking forward, the manufacturer said it expects module shipments to fall within the range of 30 GW to 35 GW this year.

Solargiga said it has sold a 45% stake in Qujing Yangguang, a monocrystalline silicon wafer manufacturer. The company entered into an equity transfer agreement with two purchasers. The transaction has been valued at CNY 1,350 million.

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