Chinese PV Industry Brief: Longi to issue $1.38 billion of bonds

Longi says it will issue up to CNY 10 billion ($1.38 billion) of bonds. It will primarily use the funds to support operational needs, supplement working capital, repay interest-bearing debts, and aid project construction and operations.

Longi plans to issue up to CNY 10 billion of bonds with a maturity period not exceeding seven years. The issuance may include general corporate bonds, perpetual corporate bonds, short-term corporate bonds, technological innovation bonds, and green bonds. The company said the specific terms and scale of the issuance will be based on its funding needs and prevailing market conditions at the time of issuance. It noted that it will primarily use the funds to meet its operational needs, supplement working capital, repay interest-bearing debts, and support project construction and operations.

China Resources Power has announced the winning candidates for its second PV module procurement round for 2024. It shortlisted six companies – GCL SI, Goking, Eging PV, Tongwei, Huansheng Solar, and Huayao PV. The procurement round includes 1.85 GW of n-type modules, divided into three bids: 550 MW, 750 MW, and 550 MW. All of the PV modules are n-type bifacial double-glass monocrystalline silicon solar panels. GCL Integration was the top candidate for the first and second bids, potentially securing a total order of 1.3 GW of modules.

Haitai Solar has started operations at its new PV module and mounting bracket factory in Yanqi county, Bazhou, Xinjiang region. The CNY 200 million factory includes a 1 GW PV module production workshop and a 1 GW PV mounting bracket production workshop. It is equipped with more than 300 advanced automated production and testing machines, including soldering machines, laminators, framing machines, and infrared testers. Once completed, Haitai Solar will use the facility to supply products directly to ground-mounted PV projects in Xinjiang.

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