Xinyi Photovoltaic Energy Storage Project won the bid

Why has Xinyi pushed back solar projects?

While Xinyi said some solar projects had been pushed back into this year so developers could assess energy storage requirements mandated by the authorities, the company said it constructed four solar farms with a total generation capacity of 440MW last year and bought two projects to add a further 140MW to its portfolio.

How many solar farms does Xinyi energy own?

Xinyi Energy acquired three solar farms with a total generation capacity of 250 MW from controlling shareholder Xinyi Solar in the second quarter and will add another three (270 MW) in the final three months of the year.

Will Xinyi Solar bet on more project acquisitions?

The developer, ultimately controlled by solar panel glassmaker Xinyi Solar Holdings, posted a first-half update in Hong Kong yesterday which stated its directors had not found bond or other financial market investments attractive enough during the first half of the year, so the company is set to bet on more project acquisitions instead.

Is Xinyi Solar confident about the future development of the solar industry?

Dr. LEE Yin Yee, S.B.S., Chairman of Xinyi Solar, concluded, "The Group remains confident about the future development of the solar industry. Amidst the competitive market, the Group will continue to improve operational efficiency, strengthen cost control and implement product differentiation strategies to enhance competitive advantages.

Does Xinyi energy still have a billion?

Xinyi Energy explained it still had the billion or so in the bank following a shares issuance in May 2019 which raised a net HK$3.76 billion (US$484 million). The company had spent HK$2.04 billion to help it acquire solar projects that year and used a further HK$386 million (US$49.6 million) for working capital and refinancing loans.

Will Xinyi Solar expand into polysilicon production?

The glassmaker has the funds to expand into polysilicon production. Investors in solar panel glassmaker Xinyi Solar can't put a foot wrong at the moment, according to the company's full-year results for 2021.