China Energy Engineering Corporation (CEEC) has announced the shortlisted candidates for the annual procurement of PV inverters in 2024. Sungrow, Huawei and Sineng have each secured a top candidate position in two of the six tender segments, representing a total of 15 GW of PV inverters. Other companies, including Growatt, Kstar and TBEA, were also among the candidates.
Solar glass manufacturer Xinyi solar energy generated revenue of HKD 12.69 billion ($1.624 billion) in the first half of 2024, an increase of 4.5% compared to revenue of HKD 12.14 billion in the first half of last year. Profits improved by 41.0%, reaching HKD 1.96 billion, compared to HKD 1.39 billion in the same period last year. Solar glass sales volume increased by 12.2% year-on-year. The company said it was able to generate positive results despite declining average selling prices thanks to high sales volume, production efficiency and lower costs for certain raw materials and energy. Looking at its market, Xinyi Solar said the shift from P-type to N-type cell technology has further increased the penetration of the double-glass modules, making thin glass with a thickness of 2.0 mm the dominant product in the market, with a market share over traditional 3.2mm glass, but the premium that thinner glass products had has “almost disappeared”. Melting capacity as of June 30, 2024 was 29,000 tons/day, of which 27,000 tons/day was in operation and 2,000 tons/day was in cold repair.
Arctech Solar has announced that it has received approval from the Shanghai Stock Exchange’s Listing Review Center for its private placement plan. The plan, which was initially filed in April 2024, will allow Arctech Solar to raise up to CNY 1.1 billion. After deducting the issuance costs, the funds will be allocated to expand the production capacity of parallel drive PV tracking systems, tracking supporting production and verification bases, an additional photovoltaic industrial park, a research laboratory and replenishing working capital. SDIC Securities is acting as sponsor for this offering.
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