Energy China and PowerChina have secured $4.3 billion worth of engineering, procurement and construction (EPC) contracts for gigawatt-scale wind and solar projects in Saudi Arabia.
Chinese energy engineering group (Energy China) and Power Construction Corp. of China (PowerChina) have signed EPC contracts for gigawatt-scale renewable energy projects in Saudi Arabia, worth CNY 31.273 billion ($4.3 billion). The deal includes several large-scale wind and solar power plants. Energy China, in partnership with ACWA Power, the Public Investment Fund (PIF) and Aramco Power, has secured three contracts worth a combined CNY 19.554 billion. The projects include 3 GW of wind capacity and a 2 GW solar installation. PowerChina has won contracts for the Afif 1 and Afif 2 solar projects in Riyadh, each with 2 GW of installed capacity. The agreements were signed with Afif Renewable Energy Company, a consortium led by ACWA Power. Both projects include 132 kV substations, 132 kV transmission lines and associated network connection infrastructure. The combined contract value is CNY 11.719 billion. Once completed, all five facilities will sell electricity to Saudi Power Procurement Co. (SPPC) based on long-term power purchase agreements, supporting the stability of the country’s energy supply.
Longi green energy said it has secured a 400 MW order for back-contact (BC) solar panels in the Shanghai Electric Fengxian No. 1 offshore PV plant. The project followed the competitive allocation scheme issued by the Shanghai Development and Reform Commission on November 15, 2024, which awards full technical scores to modules with a conversion efficiency of 24%. As a result, several offshore PV tenders have been won by BC technology-based products.
Shuangliang Eco-energy said net profit attributable to shareholders rose 164.75% to CNY53.18 million in the third quarter, despite a 49.86% year-on-year revenue decline to CNY1.688 billion. From the beginning of the year to the end of the reporting period, sales amounted to CNY 6.076 billion, down 41.27%, while the company reduced its net loss to CNY 544 million, down 59.42% year-on-year. Earnings per share improved to negative CNY 0.2901, reflecting an increase of 59.48%. The company said the third-quarter improvement was due to lean management, efficiency gains, falling PV product costs and a recovery in monocrystalline silicon prices.
The Chinese Nonferrous Metals Industry Association (CNMIA) has released the latest weekly polysilicon prices. N-type compact charging equipment traded between CNY 49,000 and CNY 55,000 per ton (MT), with an average of CNY 53,200/MT, unchanged week on week. N-type granular silicon traded between CNY50,000/MT and CNY51,000/MT, with an average of CNY50,500/MT, also stable. The number of major contract signing companies rose to six this week, although overall trading activity remained subdued and transaction volumes were broadly in line with previous periods. On the demand side, installation expectations for the fourth quarter remain weak, with limited new orders for cells and modules. Wafer manufacturers have maintained their operating figures, keeping demand for silicon materials stable. On the supply side, three companies resumed production this month and polysilicon production is expected to increase slightly in October.
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