Grand Sunergy wins 639 MW module supply contract with CGN; Autowell secures major CZ puller orders; Zhongqing Group’s 6 GW n-type cell fab starts construction; Maxwell announces share repurchase plan.
Seraphim enters energy storage market with strategic partnership
Solar cell and module manufacturer Seraphim has signed a Memorandum of Cooperation (MoC) with Xiamen Xiangyu New Energy and CRRC Zhuzhou Institute to enter the global energy storage market. Through this partnership, the 3 entities aim to develop and research international energy storage projects. The 3 stakeholders will bring their respective strengths to the partnership to build a demonstration energy storage project and optimize the energy supply chain. This collaboration positions Seraphim to integrate solar and storage solutions and capitalize on opportunities in the evolving global energy system.
Earlier this month, Seraphim announced that it had supplied modules for a 776 MW high-efficiency solar PV project portfolio under construction in Yunnan Province (see China Solar PV News snippets).
Grand Sunergy wins CGN’s 639 MW module supply contract
Heterojunction (HJT) cell and module manufacturer Grand Sunergy has signed a 639 MW solar module supply contract with a wholly-owned subsidiary of Chinese energy developer China General Nuclear Power Corporation (CGN). Grand Sunergy will supply these modules to CGN at a unit price of RMB 0.755 per watt ($0.1076/W), for a total amount of about RMB 482.6 million ($68.76 million). These modules will be used for CGN’s 500 MW photovoltaic desertification control project in Luopu County, Hotan Prefecture.
In 2023, Grand Sunergy won the bid under Section 7 of CGN New Energy’s 2023-2024 photovoltaic module framework procurement project. The current contract is part of the formal contracts signed based on the above-mentioned bid.
Earlier this month, Grand Sunergy announced that its 5 GW high-efficiency HJT solar module manufacturing fab received EIA approval (see China Solar PV News Snippets).
Autowell Secures Consecutive Major Orders for Monocrystalline Furnaces
Automation equipment manufacturer Autowell Technology announced last week that it signed a sales contract through its wholly-owned subsidiary with an internationally renowned photovoltaic company. Autowell will supply monocrystalline furnaces (CZ puller) and related auxiliary equipment to this customer for a total sales amount of approximately RMB 400 million ($56.98 million). Deliveries will begin in 2025. The announcement did not disclose further information about the customer.
This is Autowell’s second major order disclosed this month. Earlier, the company announced that it had signed a procurement contract worth RMB 900 million ($128.21 million) with another unnamed leading overseas PV company to supply CZ pullers and related auxiliary equipment (see China Solar PV News Snippets).
Zhongqing Group starts construction on 6 GW n-type cell fab
Solar PV manufacturer Zhongqing Group held a launch ceremony for its 6 GW n-type high-efficiency cell smart manufacturing facility. Located in Kaili City, Guizhou Province, the factory involves a total investment of RMB 3 billion ($427.35 million), covering approximately 213,333 m2. It will consist of 10 smart production lines for n-type high-efficiency PV cells which, when complete, will have an annual production capacity of 6 GW. It is expected to be completed and commissioned in June 2025 with official operations starting in August 2025.
Maxwell announces share repurchase plan
Solar production equipment maker Maxwell Technologies has announced that its chairman has proposed to use the company’s funds to repurchase some of its RMB-denominated ordinary shares (A-shares). The company plans to repurchase a minimum of RMB 50 million ($7.12 million) and a maximum of RMB 100 million ($14.25 million) worth of its shares. It plans to use these repurchased shares to maintain the company’s value and shareholders’ equity.
The repurchased shares will be sold through centralized bidding transactions according to relevant regulations 12 months after the disclosure of the repurchase results and share changes announcement, and the sale will be completed within 3 years after the disclosure of the repurchase results and share changes announcement. If the company fails to complete the sale within the specified period, the unsold portion will be canceled through relevant procedures, said its announcements.
Source from Taiyang News
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