Risen Energy reports 56% revenue growth in a tech-led 2022

Facebook
Twitter
LinkedIn
Reddit
Email
A 500MW solar project in India from Risen Energy. Image: Risen Energy.

Chinese PV manufacturer Risen Energy saw significant profit and revenue growth in 2022 as the company looked to expand its module production capacity and develop new technologies.

In its 2022 annual financial report Risen said it achieved a total revenue of RMB29.38 billion (US$4.42 billion), a 56% increase year-on-year (YoY). Its H1 2022 report said that the first half of the year saw US$1.83 billion in revenue, with the second half of 2022 making up the remaining US$2.59 billion. September saw the company enter the A-Rated category in PV ModuleTech’s bankability report.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company posted RMB945 million (US$136.52 million) in net attributable profits, an increase of 2,332% YoY. Profits excluding extraordinary profits were RMB1.02 billion (US$148.22 million), up 258.5%.

Risen produced 25GW of PV modules last year, predominantly out of its bases in China, Inner Mongolia and Malaysia. In November, as part of a review of the top six module manufacturers in the world, PV Tech Premium reported that Risen was targeting 30GW of production by the end of 2022.

In a statement, the company said: “2022 has been a fruitful year for Risen Energy, as we focus on powering the world with superior quality and cost-effective products and solutions. Risen Energy will continue to strengthen our investment in the R&D of our energy storage business, further optimize the comprehensive product structure, and build an integrated industry layout to elevate our service capabilities and economies of scale.”

In the latter part of 2022 and into this year the company has been pushing its R&D capabilities, particularly with regards to Heterojunction Technology (HJT) modules. Its Hyper-ion HJT series was certified by testing laboratory TÜV SÜD in August, and in February the module recorded a world-record 23.89% efficiency.

Prior to this, in January, the company announced plans to expand the production capacity of Hyper-ion HJT cells and modules to 15GW by the end of 2023. PV Tech head of research Finlay Colville identified Risen as the only company in the top 10 global PV module manufacturers that is producing GW-scale HJT products, which sets it apart from its larger competitors.

The company also said that in 2022 it improved the power outputs of its passivated emitter rear contact (PERC), tunnel oxide passivated contact (TOPCon) and HJT modules to 670Wp, 690Wp and 740Wp respectively.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

June 13, 2025
US renewables developer Invenergy has started construction of a 240MW solar PV plant in Franklin County, Ohio, US.
June 13, 2025
Indian solar developer Solarium Green Energy has planned to build a 1GW module manufacturing plant in the western Indian state of Gujarat.
Premium
June 13, 2025
The European PPA space could see more tailored PPAs and hybrid deals, according to experts at the Renewables Procurement & Revenue summit.
June 13, 2025
French independent power producer (IPP) Neoen Australia has confirmed that its 440MW Culcairn solar PV power plant in New South Wales has entered the commissioning phase.
June 12, 2025
Waaree Solar Americas will supply 599MW of solar modules supply agreement to an undisclosed US-based independent power producer (IPP).
Sponsored
June 12, 2025
At this year’s Intersolar Europe event, held in Munich, Germany, Solavita launched a new hybrid inverter for the C&I sectors.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand