Chinese PV Industry Brief: Xinte raises funds for 100,000 MT polysilicon factory, Bbetter plans new EVA solar film factory
Xinte’s parent company – TBEA – has agreed to buy new shares issued by the company for RMB2.3 billion and these funds will be used to implement its 100,000 MT expansion plan. Furthermore, EVA solar film manufacturer Bbetter Century and 8 GW factory in the Shaanxi Province.
TBEA-owned polysilicon maker and renewables developer Xinte Energy has raised RMB2.3 billion ($355.9 million) for its plan to expand its polysilicon capacity by 100,000 MT. The company has signed an agreement with TBEA, which agreed to purchase 167 million new shares at a price of RMB13.73 per share. Xinte said around 87.22% of the funds will be invested into its ongoing poly-silicon expansion project in Inner Mongolia with a planned polysilicon output of 100,000 metric tons per year. The remaining funds will be used for working capital.
EVA solar film manufacturer Bbetter Century has revealed it wants to build an 8 GW EVA film in Xianyang City, Shaanxi Province. The total investment is estimated at around RMB500 million ($77.1M), and the production lines are expected to be commissioned in early 2022. Bbetter Century said the project would proceed in two separate phases. The first will commit RMB300 million for 5 lines of 4 GW capacity, and the second phase will add another 5 lines of 4 GW capacity. This project is intended as supplying solar module manufacturer Longi, which operates a module factory in the same city. Bbetter Century recently completed construction on another 28 GW EVA factory in Yancheng City, Jiangsu Province. The new Xianyang factory will be its fourth EVA film manufacturing facility, including that the company operates Vietnam.