The Chinese solar company increased its revenue sequentially despite falling shipments having begun monetizing new power plants globally. Gross profit rose to $91.4 million.
The Tier-1 Chinese solar company is the first firm to ship more than 2 GW of solar modules in a single quarter, beating guidance for the first quarter to reach 2,068 MW in shipments. Q2 guidance of 2.5 to 2.6 GW forecast.
A subsidiary of GCL New Energy has signed a framework agreement with Fuyang New Energy Technology to build and operate up to 200 MW of solar capacity in China this year.
After several years of little activity, thin-film production is currently enjoying a resurgence. Several big equipment deals have been made in recent months, one of the most significant of these is the partnership between German suppliers Manz and Shenhua & Shanghai Electric.
Pu Neng claims it has now drawn more than $90 million in total investment in its vanadium redox flow battery technology, but the Beijing-based manufacturer did not disclose the terms of its deal with High Power Exploration (HPX).
Chinese Tier-1 solar company JinkoSolar is embarking on a research collaboration with the Solar Energy Research Institute of Singapore to develop high-efficiency bifacial solar cells.
The expansion of the Asian solar market in the first quarter of 2017 was broadly similar to the growth seen in the first quarter of last year, although most countries in the region have yet to reveal official installation statistics for the January-March period, the Asian Photovoltaic Industry Association (APVIA) said in a new report.
PERC application in monocrystalline cells has proven its capability to produce high efficiency cells. Further cost reductions could be achieved with multi PERC, but problems with Light Induced Degradation (LID) has stood in the way of its industry adoption. However, researchers and equipment suppliers are drawing in on an industrial solution.
The Tier-1 Chinese solar company saw its profit slip both sequentially and year-over-year, however, as lower average selling prices continued to fall. Company will seek opportunities to streamline operations moving forward.
The Chinese PV manufacturer has agreed to provide its Eagle series solar panels for undisclosed solar fishery projects being developed by Jing Bei New Energy. It did not disclose the terms of the deal.
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