China

The Chinese-Canadian solar manufacturer reported a 41% year-over-year increase in total module shipments to 2.2 GW in the first quarter. Revenue grew by 70% to $826 million, while net profit improved significantly from $17.2 million to $110.6 million.

Also in the brief: Solar-plus-storage microgrid project at the San Diego Blood Bank.

China’s cumulative installed PV capacity topped 208 GW at the end of March, thanks to 3.95 GW of new projects completed in the first quarter. JinkoSolar and Longi both joined the 500 W-plus module race, with their new panels offering 580 W and 530 W of output, respectively. Ginlong, meanwhile, has revealed plans to raise funds to increase its annual inverter production capacity to 20 GW, and Xi’An Solar has claimed a 23.2% efficiency rate for its N-type TOPCon modules in mass production.

The new module line can cut LCOE and reduce logistics cost for module transport.

SunPower has had to make fundamental changes to continue to be relevant in a solar industry very different from that of its roots. The company aims to become an energy service provider and is leaving low-cost manufacturing to its Chinese partner.

Chinese manufacturer JA Solar has announced a new 525 W+ panel and said the product will be available from the second half. Domestic rival Risen has shipped the first batch of its high-powered modules and intends to stick to pre-Covid-19 plans to ramp up production.

Also in the brief: First Solar will supply Geronimo Energy with 415 MW of Series 6 modules, a D.C. circuit court hears about a vital FERC energy storage order, the Midwest Solar Expo will not be postponed and more.

Longi and Sungrow both announced solid financial results last week. Module maker China Solar delayed the resumption of trading on the Hong Kong stock exchange, and polysilicon producer GCL-Poly unveiled plans to raise up to $16.8 million by issuing shares. Coal miner Baofeng Energy, meanwhile, announced the construction of what it claims will be the world’s largest PV-powered hydrogen plant, and Seraphim and Lu’An Solar revealed that they will open a 5 GW PV panel factory in China’s Jiangsu province.

Although it doesn’t seem to impact solar directly, energy storage might be threatened. “The order leaves more questions than it answers,” according to Norton Rose Fulbright. What is motivating the administration? China? Why now?

Also in the brief: Chinese EV startup Nio has secured a $1 billion investment, Kore Power has entered into a strategic partnership with ELM FieldSight, Nautilus Solar Energy has closed on a $90 million debt financing agreement and more.