Aenert news. Energy Companies
Solar photovoltaics today represents the most dynamically developing area of renewable energy. In several countries of the world, including, for example, Chile, Australia, Hungary, Spain, the level of solar electricity generation exceeds 10% of its total volume. No one is surprised by solar photovoltaic stations with a capacity of more than one GW. At the same time, photovoltaics have become widespread on all five continents, although China is the undisputed leader in photovoltaics in terms of installed capacity and electricity generation. Other centers of large-scale development of photovoltaics are Europe, the USA, India, and Arab countries.
Below, by tradition, we present a brief analysis of the quarterly reports of leading public companies, the main activity is the production of solar modules, which largely reflect the state of the entire industry.
Let’s say right away that the 2023Q3 results of these companies are quite satisfactory, in contrast to similar reports from the world’s leading wind energy companies, which we reported in a previous comment.
Longi
Chinese LONGi Green Energy Technology Co., Ltd. (LONGi) was founded in 2000. The company's main slogan is to create inexpensive, environmentally friendly energy products using environmentally advanced production methods. The company's leading enterprises are located in China and Malaysia. LONGi is one of the world leaders in the production of monocrystalline silicon wafers.
Among the company's latest technological achievements are Hi-MO 7 solar modules for utility applications with an efficiency of 22.6%. Hi-MO X6 photovoltaic modules are even more efficient, up to 25.8%. The company considers the creation of solar power plants in combination with pumped storage storage as a strategic idea. LONGi employs more than 60 thousand employees. The company has 2132 granted patents.
In the third quarter of 2023, LONGi again demonstrated satisfactory results, although they were more modest compared to the results of the previous quarter and 2022 Q3. Operating revenue is about 30 billion RMB, and Net profit 2.5 is 30 billion RMB.
Longi. Revenue, net income and share price
In the third quarter of this year, LONGi carried out aggressive activities to popularize its products, participating in various exhibitions and forums, as well as conducting bilateral negotiations. In particular, such events took place in Indonesia, Thailand, the Philippines, Malaysia, and Australia. In Germany, an agreement was reached with Enercity to supply Hi-MO 6 modules for the roofs of 12,000 private houses.
First Solar Inc.
First Solar, founded in 1999, is a leading global manufacturer of thin-film photovoltaic (PV) modules that provide a competitive option to traditional crystalline silicon photovoltaic panels. First Solar's thin-film modules feature a semiconductor layer of cadmium telluride (CadTel), derived from byproducts of copper and zinc mining. The company's solar module technology is highly scalable and has a lower carbon footprint. First Solar concentrates all its production facilities in the United States.
The third quarter of 2023 was one of the most successful in recent years for First Solar. Sales amounted to $801 million compared to $629 million in the same quarter last year (an increase of 27%). At the same time, a record Net income of $268 million was received (a loss of $49 million a year ago). During 2023Q3, First Solar released 2.5 GW of Series 6 and 721 MW of Series 7 modules.
First Solar. Revenue, net income and share price
During the current quarter, First Solar continued to expand its production capacity and expand its sales markets. Thus, a decision was made to build a new Manufacturing Facility in the state of Louisiana with a capacity of 3.5 GW and an investment volume of $1.1 Billion. American renewable energy operator Longroad Energy has confirmed a large order for thin-film solar modules from First Solar in the amount of 2 GW. The framework agreement between the companies provides for a total supply of up to 8 GW.
Jinko Solar Holding Co.Ltd.
The Chinese company Jinko Solar is one of the world's leading manufacturers in all key segments of the photovoltaic industry chain. As of the third quarter of 2023, the company's total module shipments exceeded 190 GW. JinkoSolar is present in more than 180 countries and regions around the world and has more than 3,000 customers. JinkoSolar's production facilities are located in China, Malaysia, Vietnam and the USA. The company's basic photovoltaic modules presented on the markets are Tiger Neo Tiger Pro Module Type.
In the third quarter of 2023, total revenue was $4.36 billion, up 3.7% QoQ and 63.1% YoY. 22,597 MW were delivered during the quarter. JinkoSolar's net profit amounted to $181.4 million, an increase of 140.7% year-on-year.
Jinko Solar. Revenue, net income and share price
In 2023Q3, JinkoSolar's total module shipments amounted to 21,384 MW. This is more than 20% more than the previous quarter and 107.9% more than a year ago. JinkoSolar predicts that by the end of 2023 it will achieve a total production capacity of monowafers, cells and modules of 85 GW, 90 GW and 110 GW, respectively.
Aenert photos. Solar Power Plant, Monte Di Castro, 84 MW, Italy
Canadian Solar
Canadian Solar was founded in 2001. Since 2006, the company has been listed on the NASDAQ stock exchange. Canadian Solar is present in more than 30 countries and has more than 20,000 employees. Over 110GW solar modules shipments and Over 3GWh battery storage shipments. Production of TOPCon N-type modules with power up to 700 W began in 2023. Canadian Solar has 2,134 authorized patents worldwide.
In the third quarter of 2023, Canadian Solar generated revenue of $1,806 million (CSI Solar), down 10% from the previous quarter and 8% below last year's results. CSI Solar margin was 16.6%, and Net Income was $62 million. This profit was the minimum over the past year.
Canadian Solar. Revenue, net income and share price
In 2023Q3 solar module shipments amounted to 8.3 GW, while in the next quarter Canadian Solar expects sales at the level of 7.6 - 8.1 GW.
Of the company's important announcements in the quarter under review, this obviously stands out: EDF Renewables North America Places Multi-Year Order for up to 7 GW of Canadian Solar's Made-in-USA Modules.
By the Editorial Board
Solar photovoltaics today represents the most dynamically developing area of renewable energy. In several countries of the world, including, for example, Chile, Australia, Hungary, Spain, the level of solar electricity generation exceeds 10% of its total volume. No one is surprised by solar photovoltaic stations with a capacity of more than one GW. At the same time, photovoltaics have become widespread on all five continents, although China is the undisputed leader in photovoltaics in terms of installed capacity and electricity generation. Other centers of large-scale development of photovoltaics are Europe, the USA, India, and Arab countries.
Below, by tradition, we present a brief analysis of the quarterly reports of leading public companies, the main activity is the production of solar modules, which largely reflect the state of the entire industry.
Let’s say right away that the 2023Q3 results of these companies are quite satisfactory, in contrast to similar reports from the world’s leading wind energy companies, which we reported in a previous comment.
Longi
Chinese LONGi Green Energy Technology Co., Ltd. (LONGi) was founded in 2000. The company's main slogan is to create inexpensive, environmentally friendly energy products using environmentally advanced production methods. The company's leading enterprises are located in China and Malaysia. LONGi is one of the world leaders in the production of monocrystalline silicon wafers.
Among the company's latest technological achievements are Hi-MO 7 solar modules for utility applications with an efficiency of 22.6%. Hi-MO X6 photovoltaic modules are even more efficient, up to 25.8%. The company considers the creation of solar power plants in combination with pumped storage storage as a strategic idea. LONGi employs more than 60 thousand employees. The company has 2132 granted patents.
In the third quarter of 2023, LONGi again demonstrated satisfactory results, although they were more modest compared to the results of the previous quarter and 2022 Q3. Operating revenue is about 30 billion RMB, and Net profit 2.5 is 30 billion RMB.
Longi. Revenue, net income and share price
In the third quarter of this year, LONGi carried out aggressive activities to popularize its products, participating in various exhibitions and forums, as well as conducting bilateral negotiations. In particular, such events took place in Indonesia, Thailand, the Philippines, Malaysia, and Australia. In Germany, an agreement was reached with Enercity to supply Hi-MO 6 modules for the roofs of 12,000 private houses.
First Solar Inc.
First Solar, founded in 1999, is a leading global manufacturer of thin-film photovoltaic (PV) modules that provide a competitive option to traditional crystalline silicon photovoltaic panels. First Solar's thin-film modules feature a semiconductor layer of cadmium telluride (CadTel), derived from byproducts of copper and zinc mining. The company's solar module technology is highly scalable and has a lower carbon footprint. First Solar concentrates all its production facilities in the United States.
The third quarter of 2023 was one of the most successful in recent years for First Solar. Sales amounted to $801 million compared to $629 million in the same quarter last year (an increase of 27%). At the same time, a record Net income of $268 million was received (a loss of $49 million a year ago). During 2023Q3, First Solar released 2.5 GW of Series 6 and 721 MW of Series 7 modules.
First Solar. Revenue, net income and share price
During the current quarter, First Solar continued to expand its production capacity and expand its sales markets. Thus, a decision was made to build a new Manufacturing Facility in the state of Louisiana with a capacity of 3.5 GW and an investment volume of $1.1 Billion. American renewable energy operator Longroad Energy has confirmed a large order for thin-film solar modules from First Solar in the amount of 2 GW. The framework agreement between the companies provides for a total supply of up to 8 GW.
Jinko Solar Holding Co.Ltd.
The Chinese company Jinko Solar is one of the world's leading manufacturers in all key segments of the photovoltaic industry chain. As of the third quarter of 2023, the company's total module shipments exceeded 190 GW. JinkoSolar is present in more than 180 countries and regions around the world and has more than 3,000 customers. JinkoSolar's production facilities are located in China, Malaysia, Vietnam and the USA. The company's basic photovoltaic modules presented on the markets are Tiger Neo Tiger Pro Module Type.
In the third quarter of 2023, total revenue was $4.36 billion, up 3.7% QoQ and 63.1% YoY. 22,597 MW were delivered during the quarter. JinkoSolar's net profit amounted to $181.4 million, an increase of 140.7% year-on-year.
Jinko Solar. Revenue, net income and share price
In 2023Q3, JinkoSolar's total module shipments amounted to 21,384 MW. This is more than 20% more than the previous quarter and 107.9% more than a year ago. JinkoSolar predicts that by the end of 2023 it will achieve a total production capacity of monowafers, cells and modules of 85 GW, 90 GW and 110 GW, respectively.
Aenert photos. Solar Power Plant, Monte Di Castro, 84 MW, Italy
Canadian Solar
Canadian Solar was founded in 2001. Since 2006, the company has been listed on the NASDAQ stock exchange. Canadian Solar is present in more than 30 countries and has more than 20,000 employees. Over 110GW solar modules shipments and Over 3GWh battery storage shipments. Production of TOPCon N-type modules with power up to 700 W began in 2023. Canadian Solar has 2,134 authorized patents worldwide.
In the third quarter of 2023, Canadian Solar generated revenue of $1,806 million (CSI Solar), down 10% from the previous quarter and 8% below last year's results. CSI Solar margin was 16.6%, and Net Income was $62 million. This profit was the minimum over the past year.
Canadian Solar. Revenue, net income and share price
In 2023Q3 solar module shipments amounted to 8.3 GW, while in the next quarter Canadian Solar expects sales at the level of 7.6 - 8.1 GW.
Of the company's important announcements in the quarter under review, this obviously stands out: EDF Renewables North America Places Multi-Year Order for up to 7 GW of Canadian Solar's Made-in-USA Modules.
By the Editorial Board
