China Energy Engineering signs EPC contract for 760MW Azerbaijan PV project
The Northwest Electric Power Design Institute of China Power Engineering Consulting Group (NWEPDI) has signed an engineering, procurement and construction contract with Abu Dhabi Future Energy Company (Masdar) for the 445MW Bilasuvar and 315MW Banka PV projects in Azerbaijan.
These two projects mark the first large-scale PV projects of China Energy Engineering in Azerbaijan under the EPC contracting model. The Bilasuvar project, which has an AC capacity of 445MW and a DC capacity of 580MW, is the largest PV project under construction in Azerbaijan. The Banka PV project has an AC capacity of 315MW, a DC capacity of 410MW, and is expected to generate around 640 million kWh of power annually.
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China Energy Engineering Gezhouba Group secures Indonesia floating PV project
China Energy Engineering Gezhouba Group has signed a contract for the 60MW Saguling Floating PV Project (FPV) in Indonesia. This project is a demonstration floating PV project initiated by the Indonesian government.
The project is located at the Saguling Reservoir, approximately 26 kilometres west of Bandung City in West Java Province, Indonesia, and about 100 kilometres from the capital city of Jakarta. The scope of work includes the construction of a 60MWac FPV plant on the water surface and a 150kV step-up substation.
Leading PV cell supplier Solarspace plans Hong Kong IPO
On March 13, the Hong Kong Stock Exchange disclosed that Solarspace had submitted an application for listing on the main board of the Hong Kong Stock Exchange, aiming for an IPO in Hong Kong.
Solarspace had previously applied for an A-share listing on the Shenzhen Stock Exchange’s ChiNext board in May 2023. After responding to multiple rounds of review feedback, the company successfully passed the listing review in December 2023. However, the company withdrew its A-share listing application while awaiting approval from the China Securities Regulatory Commission.
According to data from Frost & Sullivan, based on external PV cell shipments, Solarspace ranked first among specialised global PV cell manufacturers in 2024, with a market share of 18.3%. The company also ranked second among all global PV cell manufacturers, with a market share of 14.6%.
Another industry research firm, InfoLink, reported that among the top five PV cell suppliers in 2024, Solarspace ranked second, with Tongwei topping the list.
