China’s cumulative installed PV capacity reached 690 GW at the end of May, according to recent numbers released by the country’s National Energy Administration (NEA).
The NEA said that PV developers in China installed 79.15 GW of new solar from January to May, including 19.04 GW in May alone, up 47.6% from May 2023. By the end of May, total installed power generation capacity reached 3.04 TW, up 14.1% year on year. Solar power capacity stood at 690 GW, up 52.2%, and wind power capacity at 460 GW, up 20.5%.
KStar has announced plans for a private placement to raise CNY 1.25 billion ($172.1 million). The net proceeds, after deducting issuance expenses, will fund the construction of a PV inverter and energy storage converter production base, a PV and energy storage system production base, and a research and development center in Fuzhou. Both production bases are slated for completion within 36 months, significantly boosting the annual production capacity of these products.
Sungrow has announced a supply agreement with Atlas Renewable Energy, one of Latin America’s largest independent power producers. Sungrow will provide its Power Titan liquid-cooled energy storage system, totaling 880 MWh, for the BESS del Desierto power station in Chile’s Atacama Desert, the largest independent storage project in Latin America. To withstand the desert’s extreme conditions, the Power Titan system is equipped with C5 anti-corrosion and IP65 protection. It uses intelligent liquid cooling and smart O&M systems to ensure stable operation. Upon completion, the project is expected to inject approximately 280 GWh of energy into Chile’s grid annually.
JinkoSolar has announced plans to spend $110.7 million to repurchase 4,503,178 of its American depository shares. The transaction is part of a previously announced buyback initiative, which is set to run until June 30, 2025.
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