Chinese PV Industry Brief: Arctech to build 3 GW factory in Saudi Arabia

Arctech says it plans to open a 3 GW tracker factory in Saudi Arabia. The tracker manufacturer says the facility in Jeddah will be designed to reach up to 10 GW of capacity.

Arctech Solar has launched a new partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON) to set up a production facility in Jeddah, Saudi Arabia. The factory will cover an area of approximately 97,000 square meters and will have a production capacity of 3 GW, with the potential to reach up to 10 GW through localized production. It will focus on PV-supporting tracker products for local customers.

JinkoSolar has recorded 21,907 MW of total shipments for the first quarter of 2024, including 19,993 MW of PV modules and 1,914 MW of wafers and solar cells. It also reported that its net profit attributable to shareholders fell 29.09% year on year to CNY 1.176 billion ($162.4 million). It attributed the decline to low prices and growing competition. For the second quarter, JinkoSolar said it expects module shipments to range between 24 GW and 26 GW.

Trina Solar has signed a supply agreement with PetroGreen Energy Corp. (PGEC), a renewable energy developer in the Philippines. The agreement involves the supply of 117 MW of high-performance PV module products from Trina Solar’s Vertex series N-type TOPCon modules to PGEC’s subsidiary, Rizal Green Energy Corp. (RGEC), for a range of projects.

Daqo New Energy recorded $415.3 million of revenue in the first quarter of 2024, and a profit attributable to shareholders of $15.5 million. Its polysilicon sales volume reached 53,987 metric tons (MT), while its total production volume hit 62,278 MT, up from 61,014 MT in the fourth quarter of 2023.

Golden Solar New Energy Technology said its revenue increased by 7.7% to CNY 295.35 million ($40.79 million) in 2023, driven by sales of its cast mono wafer products, heterojunction (HJT) solar products, and heterojunction back contact (HBC) offerings, as well as its original equipment manufacturer (OEM) business. Sales from its OEM business grew by approximately 11.7% to CNY 209.37 million, while revenue from PV products increased by 12.9% to CNY 79.75 million, driven by sales to European customers. It recorded a net loss of CNY 326.4 million for the year.

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