Arctech Solar said it plans to raise up to CNY1.1 billion ($150 million) through a private placement of shares. After covering issuance costs, the company will use the funds to expand its production capacity, including a new factory in Changzhou, Jiangsu province, which will produce 540,000 parallel drive units per year to support approximately 8 GW of solar energy installations. Arctech will also establish a 3 GW fixed zinc-aluminum-magnesium bracket capacity and a 3 GW tracker manufacturing base in Inner Mongolia. In 2023, the company shipped 17.04 GW of racks and 7.64 GW of tracking systems.
Chinese energy construction has opened bids for its first batch of 2024 n-type heterojunction (HJT) photovoltaic modules, for a total of 1,500 MWp. The tender is divided into three segments of 500 MW each. Huasun secured the first two segments with bids of CNY 0.846/W and CNY 0.857/W for double-glazed, bifacial HJT modules rated at 710 Wp or higher. Delivery will take place in batches and final delivery is expected at the end of May 2025. The company terminated the third bidding segment for undisclosed reasons.
Tongwei has signed a five-year strategic distribution agreement with Australian energy distributor Blue Sun Group at All-Energy Australia 2024. Under the terms of the agreement, Tongwei will supply 1 GW of PV modules to Blue Sun Group during the contract period.
Trina Storagethe energy storage division of Trina Solar, has signed a supply agreement with British-based independent energy producer Lower 48 Energy. Trina Storage will supply its Elementa energy storage systems for the Preston project, with equipment delivery scheduled for the fourth quarter of 2024 and project completion in 2025. Once completed, the project will improve local grid stability and enable energy arbitrage, with an annual storage and supply capacity of 66 GWh – enough to power 22,750 households.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
Popular content
