For crystalline silicon solar cells, only light with a wavelength shorter than 1.1 micrometers can generate electron-hole pairs within the silicon material, while the rest of the sunlight is not effectively utilized and is instead converted into heat. Additionally, factors such as electron-hole recombination, surface reflection, and other inefficiencies further reduce the overall energy conversion efficiency of these solar cells.
Tongwei Co., Ltd. (hereinafter referred to as "the company") recently announced that its subsidiary, Tongwei Solar (Hefei) Co., Ltd. (referred to as “Hefei Solar Energyâ€), plans to sign two separate "Investment Agreements" with the Hefei High-tech Industrial Development Zone Management Committee and the Chengdu Shuangliu District People’s Government. These agreements will see the company invest in a total of 20GW of high-efficiency crystalline silicon battery production capacity, with 10GW each in Hefei and Chengdu. The project aims to focus on advanced single-crystal battery manufacturing using intelligent and automated processes, including smart factories, digital workshops, and logistics facilities. The total investment for both projects is expected to reach RMB 12 billion, with construction set to begin in November 2017 and full operation expected within 3–5 years based on market demand.
The company emphasized that this project is a key step toward building a world-class clean energy enterprise. Currently, Tongwei has an installed capacity of 5.4GW in high-efficiency crystalline silicon batteries, with an additional 4.3GW of new capacity under development. Its non-silicon costs have dropped to between 0.2 and 0.3 yuan per watt, significantly lower than the industry average. Once completed, the new projects will bring the company's total capacity to 30GW.
However, the company also warned that the project may face challenges due to potential technological advancements or market fluctuations over the long implementation period. Additionally, the large capital investment could impact cash flow, so the company plans to carefully manage its financial resources to ensure smooth execution.
In terms of business operations, Tongwei currently operates in two main sectors: agriculture and photovoltaics. This dual-business model integrates "agriculture (fishery) + photovoltaic" strategies. In the photovoltaic sector, the company focuses on polysilicon production, solar cell manufacturing, and the development of power stations like "fishing and solar integration" and distributed household systems. In the first three quarters of this year, the company reported revenue of 19.613 billion yuan, a 24.95% year-on-year increase, and net profit of 1.529 billion yuan, up by 69.51%.
Regarding the polysilicon business, the company has improved its production capacity through technological upgrades, reducing costs to below 60,000 yuan per ton by the end of 2016. With supply constraints in the third quarter due to maintenance at major domestic producers, polysilicon prices rose sharply, benefiting Tongwei. Its third-quarter earnings reached 737 million yuan, and it is expected that the annual contribution from the polysilicon business will exceed 800 million yuan.
Furthermore, Hefei Tongwei has become a leading global producer of solar cells, with stable strategic partnerships. It is anticipated to achieve a performance commitment of 600 million yuan in 2017, providing new growth momentum. Once fully operational, the project will reinforce the company's position in the industry and enhance its competitive edge.
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Changzhou Kingsun New Energy Technology Co., Ltd. , https://www.aioconn.com