Welcome back to another busy week! We are covering China's subsidy budget of US$214 million, India's transition from energy-deficit to energy-surplus country, the fate of U.S.A's American Energy Innovation Act (AEIA), Jinko Solar's latest revision about its revenue, stock issuance of 2 Chinese companies, and many more!
1. National Energy Administration’s Announcement
On March 5, China’s National Energy Administration (“NEA”) has issued the "Notice on Relevant Matters Concerning the Construction of Wind Power and Solar Power Projects in 2020".
According to the notice, the information about the grid parity projects should be reported to NEA and delivered the copy of its applications to the local dispatching agency by the end of April 2020. The projects should be filed and commence constructions by the end of 2020.
In addition, the total subsidy budget for new solar power generation projects in 2020 is roughly US$214 million (RMB 1.5 billion), which includes:
- US$71.34 million (RMB 500 million) for residential photovoltaics.
- US$142.7 million (RMB 1 billion) for subsidized auction projects (including centralized PV power plants and Commercial & Industrial distributed PV projects), which are categorized under the constructions of organization projects.
Regarding the reviews of companies’ voluntary application for nationally subsidized projects, the new constructions of subsidized auction projects planned for 2020, declarations of feed-in-tariffs and other relevant information are to be submitted to the NEA by the end of June 15, 2020.
2. Guizhou Province
The Guizhou Provincial Development and Reform Commission has issued a notice about a list of major constructions and key projects in Guizhou Province in 2020.
According to the list, Guizhou Province will commission a total of 3,357 major constructions and key projects in 2020.
It is planning to invest US$103.6 billion (RMB 726.2 billion) by the end of this year. This investment includes 449 major industrial projects. 48 of them are PV projects. The total annual investment stood at US$12.44 billion (RMB 87.2 billion).
3. Tianjin City
The Tianjin City Development and Reform Commission (“Commission”) recently issued the "Notice about Distributing Opinions on Tianjin City's Key Constructions and Reserve Projects in 2020".
The Commission will implement 346 key construction projects in 2020. The annual investment will be approximately US$30 billion (RMB 210.5 billion). The total investment will be about US$143.1 billion (RMB 1.003 trillion).
The said construction projects include 2 PV projects:
- The Tianjin Zhonghuan Semiconductor project: annual production of 10 GW high-efficiency diamond wire cutting ultra-thin mono-Si cells with smart slicing.
- The Shouhang High Tech Energy project: the construction projects of solar power generation equipment.
Total is building “the largest battery-powered electricity storage project in France”, according to pv magazine.
The facility is a 25MW/25MWh lithium-ion storage system, which deploys Intensium Max 20 High Energy solution.
The energy giant intends to commission the storage system by the end of 2020.
India’s power minister R.K. Singh has shared in the Parliament on March 12, that India is successfully transitioning from a power-deficit to almost power-surplus country, as reported by pv magazine.
The once energy-starved country has installed capacity of 369 GW, while the peak demand stood at 183 GW in the current year 2019-2020. And its total power generation, both traditional sources and renewable energy, is projected to rise to 619 GW by the end of 2026-2027.
Whether this optimistic prediction will turn into reality, depends how India’s clean energy and energy storage technology develops.
Energy bill is stalled amid amendment gridlock on March 9, according to The Hill.
The American Energy Innovation Act (AEIA), a mammoth energy policy bill, hit a roadblock in the Senate on Monday night with a stalemate over amendments threatening to ruin the legislation completely.
Lawmakers voted against closing debate on an updated version of the bill that included a package of noncontroversial amendments forwarded by its sponsors.
This shows that the lawmakers are still eager to push for some of the 191 amendments that have been proposed for the bill.
The bill was expected to pass as soon as Tuesday. However, its fate now remains unclear.
Jinko Solar has revised its revenue for 2019Q4 and the 2019 fiscal year.
In 2019Q4, module shipments has increased from the previous 4.2~4.4 GW to 4.5~4.6 GW, an increase of about 6%.
Annual shipments were also adjusted from 14~14.2 GW to 14.3~14.4 GW.
In the fourth quarter, Jinko Solar's revenue guidance ranged from US$1.17 billion to US$1.23 billion, which has reached US$ 1.35 billion~US$1.38 billion now. The actual revenue is 14% higher than the previous expectations.
Beijing Jingyuntong Tech
Beijing Jingyuntong Tech has issued an announcement, which stated the company’s intention of raising funds by non-publically issuing A-shares to specific objects, with total proceeds of no more than US$356.9 million (RMB 2.5 billion).
After deducting the stock issuance costs, the fund will be for Wuhai's production of 10GW high-efficiency mono-Si ingot project and increasing its liquidity.
On March 5, CSG Holding has announced its plan to non-publically issue A-shares, with total proceeds of no more than US$642.5 million (RMB 4.5 billion).
After deducting the stock issuance costs, the fund will be for the manufacturing base project for highly transparent solar panels that are light in weight. The capital raised will also be used for increasing its liquidity as well as repaying the bank loans..
Canadian Solar Inc.
Canadian Solar Inc. has announced that it has signed a PPA contract with Mexico’s Techgen, S.A. de C.V. ("Techgen"), which lasts 15 years.
The PPA will allow CSI to finance and build a 103 MWp solar power station, which is expected to be operational in 2021.