Q-Sun Solar says it plans to invest 6.2 billion yuan ($865.6 million) to build 10 GW of solar cell capacity and 12 GW of solar panel capacity.
Q-Sun Solar, an Anhui-based Chinese solar company, has signed an investment agreement with the municipality of Xiantao City, Hubei Province to add 10 GW of solar cell capacity and 12 GW of panel capacity. The company will invest about 6 billion yuan in the expansion plan.
National Development and Reform Commission (NDRC) has announced that China has reached a milestone in its energy installation capacity. The share of non-fossil energy in the total energy is 50.9 percent, which exceeds the installed fossil energy production capacity for the first time. According to China’s National Energy Administration (NEA), by the end of April 2023, China had produced 380 GW of wind power and 440 GW of solar power. Wind and solar power are the nation’s fastest growing non-fossil energy sources, now accounting for 30.9% of all electricity installations.
Solargiga, a module manufacturer, has disclosed that its subsidiary Jiangsu Yueyang has completed a module production equipment sale and leaseback agreement with Haitong Unitrust International Financial Leasing. The contract is worth CNY 12 million, with a lease term of 24 months and an interest payment of CNY 625,383 (including VAT). In addition, Solargiga recently entered into a similar leaseback agreement with Powchan Financial Group for module production equipment. The value of the contract is 52.5 million yuan for 18 months and the interest payments are 2.05 million yuan (including VAT).