https://www.miningweekly.com

A Chinese coal miner is getting into solar production

24th August 2020

By: Bloomberg

  

Font size: - +

Mid-tier Chinese coal miner Shanxi Coal International Energy Group is planning a significant investment in the competing business of making high-tech solar power cells.

The State-owned firm will lead a joint venture to build a 3 GW solar manufacturing plant for 3.19-billion yuan, according to a statement on Friday. It’s the first phase of a project that will grow to 10 GW-- the equivalent of the generating power of 10 nuclear power plants -- producing high-efficiency cells through so-called heterojunction technology.

While unusual, Shanxi Coal’s foray into rival territory isn’t a first. Jinneng Group, a provincial coal peer, also has a solar cell and panel manufacturing business. Shaanxi Coal Industry Co., meanwhile, holds a 3.88% stake in the world’s biggest solar wafer-maker LONGi Green Energy Technology Co.

China is both the world’s biggest coal and solar producer. Despite its dirty credentials and role in global warming, such is coal’s importance to cheap power and employment in the nation it won’t be fading away anytime soon, even as renewable energy takes bites out of its dominant share of the power generation pie.

According to Shanxi Coal, the rationale for its investment is to help with the province’s energy transition and meet the need for state firms to get behind strategic emerging industries.
a
The company will own a 88.5% stake in the venture, Shanxi Coal International Photovoltaic Power Technology Co. The rest will be held by Huzhou Junhua Siyue Equity Investment Partnership and Ningbo Qixian Enterprise Management Consulting Co.

Edited by Bloomberg

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION