星期五, 25 7 月, 2025
Home PV News Chinese module manufacturer unveils bolt-on plan to raise capacity

Chinese module manufacturer unveils bolt-on plan to raise capacity

A Solargiga subsidiary has handed over $2.5 million to almost double its stake in a 1.2 GW capacity module manufacturing business set up in June by investors which include the local government.

Source:pv magazine

Chinese PV manufacturer Solargiga says it has added 3.5 GW of bolt-on module manufacturing capacity by paying RMB18 million ($2.54 million) to almost double its stake in a public-private panelmaking business set up in June.

The Jinzhou Yangguang subsidiary of the Hong Kong-listed solar company injected the cash into the Jiangsu Yueyang Photovoltaic Technology Co Ltd module manufacturer which it had previously paid RMB15 million for a 15% holding in.

Jiangsu Yueyang lists two companies owned by the Jianhu County People’s Government among the independent investors which hold the balance of its stock. Solargiga did not specify how much of the company stock was held by the two public entities in its update to the Hong Kong exchange yesterday.

Those independent investors will see their total stake in the module business reduced after the Solargiga subsidiary raised its holding to 28% in return for the payment.

Although Solargiga reported Jiangsu Yueyang has 1.2 GW of module manufacturing capacity, it said the near doubling of its stake would “effectively command module capacity of 3.5 GW” in addition to its own module production capacity, without explaining the discrepancy.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Tesla is set to build its biggest energy storage facility in China

Tesla, China Kangfu International Leasing, and the Shanghai Municipal Government signed a cooperation agreement to build an energy storage power station, which will become...

Sungrow launches next-gen hybrid residential energy storage system

China renewable energy solutions company Sungrow Power has revealed its newest hybrid next generation residential energy storage system (ESS), with its the latest in...

Desay Battery Unveils Proactive-Safety-Focused Energy Storage Technologies

On July 23, Desay Battery, a leading global provider of comprehensive energy storage solutions, held its mass production launch event in Changsha, China. The...

India will add 8,500 MWh of storage within the next two years

India Central Electricity Authority Chairperson Ghanshyam Prasad said on Wednesday that 3,300 MW of Battery Energy Storage System (BESS) projects are in the pipeline...