Chinese PV Industry Brief: Arctech secures 2.3 GW tracker order in Saudi Arabia

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Arctech Solar has signed a deal with Energy China International Engineering at the 2024 International Engineering Supply Chain Development Conference to supply its Skyline II tracking systems for a 2.3 GW solar project in Saudi Arabia. The system is designed to handle the region's challenging desert terrain and high wind conditions. The project is expected to generate 156.2 TWh over 25 years and reduce carbon emissions by 147 million tons, contributing to Saudi Arabia's 2060 net-zero emissions goal.

Anhui Grand Sunergy Tech said its subsidiary won a bid for China Huadian Group's second batch of 2024 centralized PV module procurement. The company secured a 500 MW order for n-type heterojunction (HJT) bifacial modules, valued at CNY 392.5 million ($55.3 million), with a unit price of CNY 0.785 /W. China Huadian's second procurement batch totals 16 GW, divided into three lots, with Lot 2 reserved for high-efficiency n-type HJT modules with a conversion efficiency exceeding 22.6%.

The Shanghai Stock Exchange has announced the termination of SAJ‘s initial public offering (IPO) application. The Guangzhou-based solar inverter and energy storage system manufacturer voluntarily withdrew its registration documents with its lead underwriter, Minsheng Securities. The IPO had aimed to raise CNY 1.2 billion to boost production capacity to 470,000 inverters annually, build a new research and development center, and enhance marketing and operations.

State Power Investment Corp. (SPIC) has announced the shortlisted candidates for its 52nd batch of centralized inverter procurement for 2024. The tender, covering a total of 12.5 GW of inverters, awarded contracts to Sineng for 1.75 GW, Kstar for 875 MW, TBEA for 1 GW, Sungrow for 4.5 GW, and CNBM Xinyun, an agent of Huawei inverters, for 3.5 GW. An unspecified state-owned enterprise from Hunan also secured a contract for 875 MW.

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