Chinese PV Industry Brief: GDEP secures 118 MW of Trina panels for $0.12/W

Guangdong Electric Power Development (GDEP) has bought 118 MW of Trina Solar panels for $0.12/W. It says it will use the modules for several solar projects in China’s Shandong province.

GDEP has completed its second round of PV module procurement tenders for 2024, obtaining 118 MW of n-type modules from Trina Solar in a single bidding segment. The winning bid was $14.2 million, with a unit price of $0.12/W. Trina Solar is set to supply its n-type Vertex series modules, featuring 210 mm silicon wafers, for a ground-mounted power projects spearheaded by GDEP in Dezhou, Shandong province.

JTPV said it shipped 10.08 GW of solar cells (1.52 GW of p-type cells and 8.56 GW of n-type) in the first quarter of 2024, up 109.56% year on year. The company reported an operating income of $516 million and a net profit of $2.75 million for the quarter. It also recorded overseas sales of $59.9 million, with international sales accounting for 11.62% of its total revenue. The company said it plans to expand its overseas production capacity by investing in solar cell production facilities across Southeast Asia, the Middle East, Eastern Europe, and the United States. In 2023, JTPV shipped 29.96 GW of solar cells (9.38 GW of p-type cells and 20.58 GW of n-type), up 179.43% year on year. According to InfoLink, JTPV was the solar industry’s leading independent supplier of n-type cells in 2023.

Canadian Solar Inc. (CSI) said it recorded $1.329 billion of revenue in the first quarter of 2024. Its net profit was $36.223 million, down from $107 million in the first quarter of 2023. Its solar module shipments hit 6.3 GW in the first quarter, up 4% year on year. CSI attributed its performance to lower PV product prices. Looking ahead, the company said it expects total revenue for the second quarter to fall within the range of $1.5 billion to $1.7 billion. It said its module shipments will be between 7.5 GW and 8 GW for the quarter, which includes 100 MW designated for company-owned projects.

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