tongwei

Solar manufacturer Tongwei is forecasting for a six-fold increase in net profit for Q1 2022, highlighting the impact pricing spikes are having on upstream manufacturer fortunes.

LONGi Solar is to procure more than 200,000 metric tonnes (MT) of polysilicon from upstream provider Tongwei under a two-year agreement.

LONGi solar has increased its wafer prices for the third time in less than six weeks as a four-month high in wafer prices continues, while Tongwei solar has also pushed up the price of its 182mm and 210mm solar cells.

Tongwei has warned of ongoing tight supply of solar PV materials after recording a jump in 2021 revenue in excess of 50%.

PV Tech Research’s Finlay Colville reveals which manufacturers are driving the PV industry’s transition to n-type, explaining why what these companies do in the next two years will shape the sector moving forward.

Upstream solar major Tongwei has forecasted for profits to more-than-double in its 2021 financial year on the back of increased material and cell prices experienced last year.

The first manufacturing line at a 15GW solar wafer and cell manufacturing facility in Chengdu co-owned by Trina Solar and Tongwei has begun to ramp.

‘Solar Module Super League’ manufacturer JinkoSolar is to invest RMB450 million (US$70.3 million) in Tongwei Solar subsidiary Sichuan Yongxiang Energy Technology to help finance a 100,000MT “high-purity” polysilicon facility.

Recent solar wafer and cell price increases from both LONGi Solar and Tongwei, which have seen prices rise by between 5.6 – 7.7%, have underscored heightened volatility in the solar supply chain.

Solar manufacturer Tongwei increased the prices of its cells for the second time in a month on Monday, with polysilicon pricing also edging upwards this week.