Jolywood has canceled a plan to invest in solar cell and panel production in Indonesia, while Hangzhou First Applied Material has said that it will invest $226 million in the expansion of its EVA film output capacity.
Jolywood‘s board has decided to scrap a plan to invest in Indonesia because the pandemic has complicated its efforts. The company cited a range of issues, from flights to logistics. Its original plan, announced in March 2021, was to invest in 1 GW of solar cell and 1.5 GW of PV module capacity in Indonesia.
Hangzhou First Applied Material has announced plans to invest $226 million in EVA film capacity expansion. The company, which is among the world’s largest manufacturers of EVA film for PV modules, plans to build a new EVA film production base in Vietnam. The plan still needs to be approved by several agencies and regulators in China, however.
Qujing, a city in Yunnan province, has revealed plans to develop 18.3 GW of solar by 2024. More specifically, it aims to build 50 solar farms, with a total capacity of 4.83 GW, by the end of this year. It said it will install 4.91 GW in 2023 and 8.59 GW in 2024, when it aims to have generate 20 TWh of electricity per year from renewables.
IDG Energy Investment will pay €50 million ($52.3 million) for PV wet processing units owned by Germany’s Rena Technologies GmbH. Under the terms of the deal, Rena Technologies will exit the Chinese solar market for five years and will licence its solar wet processing patents to IDG Energy Investment for a period of 15 years. Rena Technologies produces wet processing equipment for the renewables market, semiconductors, medical technology, and glass. IDG Energy Investment said the move would give it access to “leading technologies of manufacturing high-throughput cleaning equipment and copper plating equipment.”
This post appeared first on PV Magazine.