Chinese PV Industry Brief: Tongwei halts polysilicon output due to flood threat

A unit of Tongwei has suspended polysilicon production in Sichuan province due to potential floods. The temporary factory shutdown will shave off 25% of the group's total output capacity.

Tongwei has stopped polysilicon production at a factory run by its Yongxiang unit in Leshan, Sichuan province, due to an unspecified flood threat. The production halt was requested by the local authorities. The shutdown will shave off 25% of the group’s total production capacity. The PV group’s annual polysilicon production capacity is around 80,000 MT, while Yongxiang’s production site in Leshan can produce around 20,000 MT per year.  Tongwei said the remaining 60,000 MT production is still running at full capacity. Production at the Yongxiang plant will likely resume within 10 days, depending on the local situation with flooding, the company said.

JinkoSolar said on Friday that it will provide 1 GW of its Swan bifacial modules to Shanghai Electric. The Chinese power group will use the solar panels for a project in Dubai.

The National Energy Administration (NEA) said on Friday that China’s new residential PV installations hit 886.7 MW in July. Year-to-date cumulative PV installations are 2.94 GW. Shandong province installed the most new solar in July with 385 MW, followed by Hebei province with 174 MW.

Longi said on Friday that it has signed a long-term supply agreement with polysilicon supplier Asia Silicon. Under the terms of the agreement, Longi has agreed to buy 124,800 MT of polysilicon over the next five years. The purchase price will be negotiated by the two parties each month.

SFSY issued a positive first-half profit notice this week – far better than some of its Hong Kong-listed solar rivals. Xinte Energy and Solargiga, for example, both announced negative earnings outlooks.

Panda Green has raised much-needed short-term funds by arranging two sale-and-leaseback deals related to three of its solar projects. The developer raised RMB500 million through a one-year deal with fellow state-owned entity CITIC Financial Leasing, for 100 MW of solar capacity. Panda Green will pay around RMB512 million to CITIC over the next year to lease back the projects. The other arrangement is a nine-year agreement with Shenzhen Jingneng Leasing – a company owned by Panda Green’s main shareholder, Beijing Energy.

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