Arctech Solar said it plans to raise up to CNY 1.1 billion ($150 million) through a private placement of shares. After covering issuance costs, the company will use the funds to expand its manufacturing capacity, including a new facility in Changzhou, Jiangsu province, that will produce 540,000 parallel drive units per year to support about 8 GW of solar installations. Arctech will also establish a 3 GW capacity for zinc-aluminum-magnesium fixed brackets and a 3 GW tracker production base in Inner Mongolia. In 2023, the company shipped 17.04 GW of racks and 7.64 GW of tracking systems.
China Power Construction has opened bids for its first batch of 2024 n-type heterojunction (HJT) photovoltaic modules, totaling 1,500 MWp. The procurement is divided into three segments of 500 MW each. Huasun has secured the first two segments with bids of CNY 0.846/W and CNY 0.857/W for dual-glass, bifacial HJT modules rated at 710 Wp or higher. Delivery will occur in batches, with final completion expected by the end of May 2025. The company has terminated the third bid segment for undisclosed reasons.
Tongwei has signed a five-year strategic distribution agreement with Australian energy distributor Blue Sun Group during All-Energy Australia 2024. Under the terms of the agreement, Tongwei will supply 1 GW of PV modules to Blue Sun Group over the contract period.
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