Jiangsu Zhongli Group Co.Ltd(002309) march 22 announced that Tenghui photovoltaic, a wholly-owned subsidiary of the company, and fupingzhong, a subsidiary of Fuping County People's government and its finance bureau of Hebei Province, signed a cooperation agreement for new energy. In the next five years, the company plans to jointly invest in the construction of a green, low-carbon and new energy industrial base with Fuping County.
According to the announcement, the cooperation mainly involves the construction of industrial chain development directions such as photovoltaic manufacturing and power generation projects in Fuping County. Since the second half of 2021, Jiangsu Zhongli Group Co.Ltd(002309) has successively signed several photovoltaic cooperation project agreements, continuously optimized the original cable business, recovered funds, and focused on the clear photovoltaic strategy and rapid implementation. The company said that on the basis of the four photovoltaic production bases expanded last year and put into operation, it plans to build one or two photovoltaic production bases, which is the agglomeration effect of the company's further expansion of photovoltaic module and cell sales business; At the same time, the signing of the joint venture agreement between the subsidiary and Fuping County Government and Zhongwei new energy is based on the needs of the company's long-term development strategic layout, and is of great significance in promoting the "double carbon" goal and implementing the Rural Revitalization Strategy.
give full play to the comprehensive advantages and make a major breakthrough in photovoltaic layout
The company said that Zhongwei new energy and Tenghui photovoltaic will establish a joint venture with a registered capital of 400 million yuan. Tenghui photovoltaic will contribute 49%, including 20% of technology shares, and Zhongwei new energy will contribute 51%; Under the unified planning of Fuping County Government, the joint venture plans to invest in three 5GW projects within five years. In terms of photovoltaic manufacturing, 5GW heterojunction (hjt) cells and 5GW photovoltaic module manufacturing projects will be invested, with a total investment of about 5 billion yuan; In terms of power generation projects, 5GW "photovoltaic + modern agriculture" power generation project will be invested, with a total EPC value of about 21 billion yuan. Among them, Tenghui photovoltaic is responsible for the project construction design and engineering technology of photovoltaic + modern agriculture, and introduces relevant new energy central enterprises to invest and hold projects. It is worth noting that Tenghui photovoltaic said that it had signed a strategic cooperation agreement with relevant central enterprises on the joint development and construction of power station projects.
It is understood that this cooperation project will be divided into three phases. Phase I: investment and construction of 3gw photovoltaic module manufacturing project after signing the agreement; In the second phase, it is planned to build 2gw heterojunction battery and 2gw photovoltaic module manufacturing projects in June 2023; In the third phase, it is planned to build 3gw heterojunction battery manufacturing project in 2024. At the same time, 1GW "photovoltaic + modern agriculture" power generation projects will be constructed simultaneously in each phase, with a total of 3gw. After the construction of the above projects, the joint venture will declare and obtain the construction indicators according to the market development of Beijing, Tianjin and Hebei, and then construct the subsequent 2gw power generation projects.
Jiangsu Zhongli Group Co.Ltd(002309) introduced that the parties to the agreement set up a joint venture, which will give full play to the comprehensive advantages of Fuping County, such as location advantages, rich land resources and excellent lighting conditions, to develop new energy industry. The construction of three 5GW photovoltaic new energy projects will enhance the high-quality development of the company's photovoltaic industry and help realize Fuping's green zero carbon industry and Rural Revitalization.
seize the development opportunities of the industry, technology and market two wheel drive
According to the company, photovoltaic enterprises urgently need to reduce the investment cost of power station system with the advantage of kWh cost brought by technological innovation. In recent years, with perc battery, the mainstream technology in the market, gradually approaching the theoretical efficiency limit of 24%, TOPCON and hjt technologies in n-type battery are becoming more and more mature, and a new round of technological change is imminent. Previously, Jiangsu Zhongli Group Co.Ltd(002309) said in the institutional research that the photovoltaic industry is currently in the transition period of a new round of technological change. The company seizes the development opportunities of the industry and strives to overtake on the curve. The 20% stake of Tenghui photovoltaic technology in the joint venture is a strong embodiment of the company's technical hard power.
Since 2019, the company has continued to increase the R & D investment and patent layout of n-type battery technology represented by hjt. At present, the company has more than 10 technical reserves such as R & D patents of hjt battery and components and more than 20 technical reserves such as R & D patents of TOPCON battery and components. At the same time, it has continuously improved various battery manufacturing processes and continuously improved the conversion efficiency of TOPCON battery and components, hjt battery and components. The signing of this contract is conducive to the implementation of Jiangsu Zhongli Group Co.Ltd(002309) the R & D achievements in new technology fields such as hjt, and promote the mass production of the company's high-performance battery and component products, with a view to expanding the market space of n-type battery and component, which has strong strategic significance.
Minsheng securities analysts said that the technology iteration of photovoltaic cells in 2022 officially ushered in a new era. Battery technologies with higher conversion efficiency such as TOPCON, hjt and IBC will move from the laboratory to the industrial chain. In the process of forming a virtuous cycle of production, large-scale effect cost reduction and continuous production expansion, enterprises enjoying technology dividends are expected to enjoy the dual advantages of increasing market share and enjoying technology premium.
The company emphasizes that the demand of Jiangsu Zhongli Group Co.Ltd(002309) capacity expansion comes from the market space quickly opened by it. Since the second half of 2021, the company has signed cooperation agreements with many places, including multiple County wide distributed photovoltaic projects and comprehensive development cooperation in Hubei, Anhui, Ningxia, Xinjiang and other regions, involving the EPC Construction and development of distributed photovoltaic power plants and centralized photovoltaic power plants. The company has a total of 19 framework agreements being performed, and the total project scale has exceeded 10GW up to now.
In addition, the company said that in addition to the Chinese market, it will continue to expand overseas photovoltaic markets such as Europe and the United States this year to maintain the company's leading share in the overseas photovoltaic market. Recently, Tenghui photovoltaic has signed a strategic cooperation agreement with artsolar, a leading local photovoltaic manufacturer in South Africa. The two sides will carry out all-round cooperation to create high-quality and efficient localized photovoltaic module production capacity in South Africa, meet the requirements of the local government's independent power producer procurement plan (rmippp) to mitigate power supply risks, and jointly develop the South African market.
