Jinchen photo voltaic module manufacturing line
Picture: Jinchen Equipment
Shengcheng Photovoltaic Gear (Suzhou) Co., Ltd (SC Photo voltaic), a unit of the Chinese language industrial conglomerate JS Corrugating Equipment, agreed to offer PV manufacturing gear in in India Reliance New Vitality Photo voltaic Ltd. (RNESL), a unit of Reliance Industries headed by Mukesh Ambani. The entire worth of the contract is CNY 282 million.
RNESL simply acquired it a stake in German-based silicon wafer producer NexWafe GmbH as a strategic lead investor. In October 2021, it additionally acquired a 100% stake in Norway-based heterojunction module maker REC Group.
In a separate announcement, gear producer Jinchen Equipment mentioned it intends to boost CNY1 billion via a non-public placement. It mentioned it desires to speculate CNY 410 million to increase the manufacturing capability of its manufacturing unit in Suzhou, China.
Jinchen mentioned it’ll additionally make investments CNY 310 million within the growth of recent manufacturing traces for heterojunction cells and modules, whereas allocating one other CNY 280 million for working capital.
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