Arctech Solar said it plans to raise up to CNY1.1 billion ($150 million) through a private placement of shares. After covering issuance costs, the company will use the funds to expand its production capacity, including a new factory in Changzhou, Jiangsu province, which will produce 540,000 parallel drive units per year to support approximately 8 GW of solar energy installations. Arctech will also establish a 3 GW fixed zinc-aluminum-magnesium bracket capacity and a 3 GW tracker manufacturing base in Inner Mongolia. In 2023, the company shipped 17.04 GW of racks and 7.64 GW of tracking systems.
Chinese energy construction has opened bids for its first batch of 2024 n-type heterojunction (HJT) photovoltaic modules, for a total of 1,500 MWp. The tender is divided into three segments of 500 MW each. Huasun secured the first two segments with bids of CNY 0.846/W and CNY 0.857/W for double-glazed, bifacial HJT modules rated at 710 Wp or higher. Delivery will take place in batches and final delivery is expected at the end of May 2025. The company terminated the third bidding segment for undisclosed reasons.
Tongwei has signed a five-year strategic distribution agreement with Australian energy distributor Blue Sun Group at All-Energy Australia 2024. Under the terms of the agreement, Tongwei will supply 1 GW of PV modules to Blue Sun Group during the contract period.
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