Ja Solar Technology Co.Ltd(002459) spend another 10 billion to expand and run to n-type battery modules.
On May 18, Ja Solar Technology Co.Ltd(002459) ( Ja Solar Technology Co.Ltd(002459) . SZ) announced that it planned to expand the company’s integrated production capacity and invest 10.29 billion yuan in Qujing 10GW high-efficiency battery, 5GW component project and Hefei 11gw high-power component reconstruction and expansion project Ja Solar Technology Co.Ltd(002459) company told the associated press that the new construction, reconstruction and expansion projects are n-type battery modules. Efficient products meet the market demand, which is conducive to the promotion of the company’s market share and integrated profitability.
According to incomplete statistics by the financial Associated Press, at present, companies including Jingke energy (688223. SH), csiq, Shanghai Aiko Solar Energy Co.Ltd(600732) ( Shanghai Aiko Solar Energy Co.Ltd(600732) . SH), Risen Energy Co.Ltd(300118) ( Risen Energy Co.Ltd(300118) . SZ), Trina Solar Co.Ltd(688599) ( Trina Solar Co.Ltd(688599) . SH), Huasheng new energy and others have disclosed the plan of n-type battery, and most of the products are released or mass produced in the second half of the year. The technical route includes not only TOPCON and heterojunction that the market pays attention to, but also the ABC battery of Shanghai Aiko Solar Energy Co.Ltd(600732) , bycium + of Ja Solar Technology Co.Ltd(002459) and so on. The situation of “scuffle among dragons” in the era of high-efficiency components has been opened.
Industry analysts believe that n-type mass production has been frequent since this year, and it is expected to usher in a larger scale in 2023.
10 billion expansion of n-type capacity
On May 18, Ja Solar Technology Co.Ltd(002459) threw out an announcement on the investment and construction of 10 billion level integrated production capacity. The company’s proposed projects include Qujing 10GW high-efficiency battery, 5GW component project and Hefei 11gw high-power component reconstruction and expansion project, with an estimated investment of 10.29 billion yuan, accounting for 62.38% of the latest audited net assets.
For the investment situation, the company told the financial associated press that the new 10gwn high-efficiency battery and 5gwn high-efficiency module project in Qujing Economic Development Zone is to build the “core area of the world photovoltaic capital” based on Qujing’s high-quality industrial policy, improve the competitiveness of Jingao in the industry and seize the photovoltaic application market in Yunnan and even southwest China.
In addition, Hefei 11gw high-power component reconstruction and expansion project is mainly to carry out technical transformation and upgrading of the original production line. The component capacity can be compatible with type n. after completion, it will have the production capacity of 6Gw high-power components per year. At the same time, it will invest in new 5GW high-power component production line and supporting storage facilities, and increase the production capacity of 11gw high-power components per year to meet the market demand for high-power components.
According to the plan, Qujing battery and module project will be dominated by a new project company, with an investment of 6.02 billion yuan, accounting for 58.5% of the total investment. The construction capital is expected to be 24 months, and the reconstruction and expansion project of Hefei components is expected to be completed in 28 months.
Ja Solar Technology Co.Ltd(002459) especially in the construction of vertical integration. Over the past 12 months, the company has invested 18 expansion projects, with a total amount of 6.808 billion yuan, accounting for 41.27% of the latest audited net assets, and the latest capacity construction plan, accounting for more than 60%. The company responded to the financial Associated Press reporter that the total investment of the project includes working capital and is implemented in stages. The capital can be solved through the company’s own cash flow and bank credit line.
Some industry analysts believe that Ja Solar Technology Co.Ltd(002459) and other leading enterprises have invested heavily in the construction of n-type production capacity, indicating that the conditions for large-scale mass production are gradually met. Some industry analysts told the financial associated press that the photovoltaic industry has the strategy of transferring costs and retained profits through upstream and downstream integration, and the cost pressure from upstream silicon materials has increased in recent two years, which is also accelerating the extension of component enterprises to the upstream. With the improvement of equipment production capacity and technological progress, the equipment investment per unit capacity of n-type battery will further decline.
the second half of the year ushered in the tide of n-type mass production
According to different doping elements, n-type silicon wafers are doped with phosphorus and p-type silicon wafers are doped with boron. In 2021, the large-scale production of p-type single crystal cells adopts perc technology, with an average conversion efficiency of 23.1%. As it is gradually approaching the theoretical limit, there is limited room for efficiency improvement in the future. Therefore, n-type technology is generally considered to be the next generation mainstream technology.
According to incomplete statistics by the financial Associated Press, since this year, the capacity planning of leading enterprises on new battery modules has been released one after another. At present, Longi Green Energy Technology Co.Ltd(601012) has not announced the technical route of mass production of new batteries, but it also said that the transformation of the production line was accelerated in the first quarter of this year to store energy for new products, which is planned to be put into operation in the third quarter.
It is worth noting that most battery module enterprises have successively announced new products or mass production plans for n-type battery modules. Jingke energy previously said that TOPCON’s 16GW n-type 182 production capacity has been put into operation in Q1, and it is expected to reach full production in Q2, with an annual n-type shipment target of more than 10GW; Atlas said that the high-power module of n-type TOPCON battery is planned to be put into trial production in the third quarter, enter the formal mass production in the fourth quarter, and soon reach the GW level Trina Solar Co.Ltd(688599) Suqian 8gwtopcon battery project has been started and is planned to be put into operation in the second half of 2022.
In terms of heterojunction, according to Huasheng new energy company, on April 30, the first batch of 210 cells of Huasheng phase II 2gw high-efficiency microcrystalline heterojunction project were successfully produced, with a maximum conversion efficiency of 24.68%, marking that Huasheng has fully entered the era of mass production of large-size high-efficiency cells and components. According to the plan, by the end of June, Huasheng will complete the commissioning and production of all 2gw equipment. At that time, it will realize the production capacity of high-efficiency heterojunction Cecep Solar Energy Co.Ltd(000591) batteries and components of 2.7gw each, leading the industry.
In March this year, Risen Energy Co.Ltd(300118) launched “voxi” series heterojunction modules. According to public data, its battery efficiency exceeded 25.5%, module power reached 700W, and module efficiency reached 22.53%. In addition, Atlas also launched heterojunction components with conversion efficiency of 22.5% for household power stations.
In addition to TOPCON and heterojunction, various patented n-type technologies are also threatening: Shanghai Aiko Solar Energy Co.Ltd(600732) will release the components supporting ABC battery in June. The 6.5gw mass production project of Zhuhai base is advancing in an orderly manner and is expected to be completed and put into operation in the third quarter of this year. According to the company’s disclosure, by the end of 2021, the maximum conversion efficiency of ABC battery research and development was 26.10%.
Ja Solar Technology Co.Ltd(002459) n battery is bycium + independently developed. People from the company told the financial associated press that bycium + can realize mass production through technological transformation on the basis of perc production line. The single watt power generation of n-type module based on bycium + battery technology is about 3.9% higher than that of p-type module. Recently released deepblue4 The battery efficiency of mass production of 0x components can reach more than 24.8%, and the maximum conversion efficiency of components can reach 22.4%. The mass production of Q3 is planned to reach 6.5gw by the end of this year.
Industry analysts believe that efficient component products have become an important factor in market share competition and improving profitability. The above-mentioned industry insiders told the financial associated press that the development trend of large-size and flake has approached the bottleneck. “The thickness of silicon wafer will not be infinitely diluted, and the coexistence of 182mm and 210mm has been formed in the large-size industry. The next competition in the photovoltaic industry must be a competition of high efficiency.”
