The field of photovoltaic glass is booming. In 2021, glass industry giants Fuyao Glass and Ancai Hi-Tech have successively released new plans for photovoltaic glass.
On the evening of January 8, Fuyao Glass announced that in order to expand the company’s H-share investor base and optimize the company’s capital structure, it plans to issue new H shares, and the number of additional H shares will not exceed 101 million shares. Fuyao Glass is listed in Shanghai and Hong Kong and currently has about 500 million H shares issued, accounting for 20.16% of its total share capital. If the closing price of Fuyao Glass Hong Kong stocks on January 8 is HK$51.48 per share as a rough calculation, Fuyao Glass will raise funds up to RMB 434105 million.
Fuyao Glass stated that the funds raised from the new issuance of H shares will be used to supplement working capital, repay interest-bearing debt, invest in research and development projects, optimize the company’s capital structure, and expand the photovoltaic glass market.
It is reported that Fuyao Glass is the largest domestic automotive glass manufacturer, occupying more than 65% of the domestic automotive glass OEM (OEM) market. Its main production process is float glass. One of the businesses of Fuyao Glass Illinois Co., Ltd., a wholly-owned subsidiary of Fuyao Glass in the United States, is the production of backsheet glass for photovoltaic modules.
On the same day, the domestic photovoltaic glass company Ancai Hi-Tech also issued an announcement stating that the company signed a cooperation agreement with Boai Lingchuang to establish Jiaozuo Ancai New Material Co., Ltd. with an annual output of 180,000 tons of rolled solar cell packaging glass project.
Ancai Tech believes that in recent years, the cost of photovoltaic power generation has continued to decrease, and the photovoltaic power generation industry has developed rapidly. As the penetration rate of photovoltaic double-glass modules continues to increase, the demand for photovoltaic glass further increases, and the development of the photovoltaic glass industry is in a stage of rapid growth. The company established a joint venture company to carry out the construction of an annual production of 180,000 tons of rolled solar cell encapsulating glass project, which is in line with the company’s own development and market demand. It can expand the company’s business scale, reduce production costs, help improve the company’s operational stability, and further enhance the company’s photovoltaics Competitiveness in the glass market.
In addition, Almaden and Shanxi Rishengda Solar have recently made new moves in the field of photovoltaic glass.
On January 3, Almaden issued an announcement stating that it had signed a “strategic cooperation agreement” on photovoltaic coated glass. The company plans to sell photovoltaic coated glass to JA Solar from January 2021 to December 2022. The estimated total sales volume is not less than 79.6 million square meters, and the estimated total sales amount is about 2.1 billion yuan (tax included). Almaden said that with the completion and commissioning of three furnaces in the original production base in Fengyang, Anhui, and the expansion of the company’s photovoltaic coated glass product deep processing line, the company will further increase the production capacity of ≤2.0mm ultra-thin physical tempered glass in the future.
On January 4, Shangdang Economic and Technological Development Zone and Shanxi Rishengda Solar Energy Technology Co., Ltd. signed a contract for the 2×1000T/D photovoltaic glass production line project. The project is constructed in two phases. The first phase of the 1000T/D photovoltaic glass original production line is planned to be completed and put into production at the end of 2021. The second phase of the project is a 1000T/D photovoltaic glass original production line and an annual output of 80 million square meters of photovoltaic cell packaging panels and backplane tempering, coating, perforation, and silk screen processing systems. It is planned to be completed and put into production in May 2023.