Risen Energy Co. Ltd., a Chinese integrated manufacturer of PV products, held a virtual roadshow for the issuance of convertible bonds in late January. At the event, chairman and CEO Xie Jian stated that by the end of 2021 his company should have a total production capacity of nearly 20GW for PV cells and a total production capacity of nearly 28GW for PV modules. This projection assumes that the company will be able to keep pace with its own schedule for capacity expansion. Also, the company forecasts that shipments of its PV products in 2021 will come to around 15GW.
Vice president and CFO Yang Yu said that the impact of the COVID-19 pandemic on overseas sales has not been particularly significant. Although the outbreak situation continues to be severe for some countries and regions, Risen’s main overseas markets are not seriously affected. Yang also pointed out that Risen has achieved some successes in growing its overseas market share. Sales abroad now comprise more of its revenue stream than before, and this can help lower the financial risks associated with the pandemic. Presently, COVID-19 outbreaks are still out of control in some regional markets. However, Risen is fully booked for orders, and the development schedules of most new solar projects have remained relatively unchanged so far this year.