Chinese PV Industry Brief: New capacity expansion plans and 100 MW of PV for a poverty-alleviation project
Three major Chinese PV manufacturers have announced capacity expansion plans over the past week. Chint also released its 2019 financial results, while Kstar unveiled a new inverter supply deal.
FIRST to raise funds for new manufacturing base
First Applied Material announced plans on Thursday to raise up to RMB1.7 billion (US$240.3 million) by publicly issuing convertible bonds. The six-year bonds can be converted into shares upon maturity, it said. While some of the anticipated proceeds will be used to shore up working capital, the Hangzhou-based EVA film and PV module backsheet manufacturer said that it will allocate about RMB1.4 billion toward the construction of a new encapsulation plant for PV modules in Chuzhou, Zhejiang province.
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