Electrical Equipment / Components & Telecoms

On July 27, Jinyang New Energy (01121.HK) announced that the company recently signed a strategic investment cooperation agreement with the People's Government of Nan'an City, Fujian Province, China, to cooperate in the large-scale mass production of 20 GW of second-generation heterojunctions in Nan'an City. project.

According to the cooperation agreement, the Nan'an government will coordinate the introduction of provincial and municipal industrial funds or other investment funds, and invest in the group's established companies in the region for this project in the form of capital increase to support the development of this project.

According to the announcement, after the initial plan, the above-mentioned state-owned investment institutions will account for less than 49% of the equity of the project company, and the company's indirect wholly-owned subsidiary Jinyang (Quanzhou) New Energy Technology Co., Ltd. will account for more than 51% of the equity of the project company. After the two parties formally reach the cooperation intention of a specific project, they should sign a separate project investment agreement, which will specify the total amount of project investment and the specific plan for project implementation.

Jinyang previously issued an announcement that it intends to acquire more than half of the equity of IENERGY in Australia to realize a vertically integrated industrial chain from upstream silicon wafers, midstream cells and components.

Jinyang New Energy is expected to deliver the monocrystalline ingot silicon wafers of the Group to the high-efficiency heterojunction solar cell production line leased by the company from Fujian Juineng Power Co., Ltd. to produce heterojunction solar cells and modules, and finally deliver them to Australia and use IENERGY provides the group's high-efficiency heterojunction power station services to end home customers, and enters the photovoltaic industry integrated complete vertical supply chain solution provider for end users.

It is reported that Jinyang Silicon's heterojunction large-size silicon wafer project is expected to be fully put into operation in 2023, and will form an annual production capacity of 20GW of heterojunction matrix materials.

Jinyang New Energy said that when the project is completed, it is expected that the Group's monocrystalline silicon wafer production capacity will rank among the world's top monocrystalline silicon wafer production capacity, and it is expected to become the world's top five monocrystalline silicon wafer supplier with production capacity.