[SMM PV] Laplace plans to raise 2.201 billion yuan to invest in PV and semiconductor high-end equipment

Indian solar PV manufacturer and EPC group HVR Solar is expanding upstream into solar cell production. At the SNEC 2026 expo in Shanghai, the company signed multiple strategic memorandums of understanding (MoUs) with international partners to establish a 1.2 GW annual capacity TOPCon cell manufacturing line in the Amroha district of Uttar Pradesh. Under these agreements, Shenzhen Han’s Photovoltaic Equipment Co., Ltd. will supply the core manufacturing machinery for the TOPCon production line, Gentech Technology (Huzhou) Co., Ltd. will provide critical chemical and gas utility systems, and Indygreen Technologies will serve as the technology facilitator responsible for production line integration and process deployment. This project is viewed as a strategic move to strengthen India's domestic renewable energy supply chain, reducing the company's reliance on upstream cell imports while enhancing local manufacturing capabilities. Furthermore, this new cell facility will create synergies with HVR Solar’s recently commissioned 1.2 GW automated module factory in Sonipat, Haryana. The module plant primarily produces G12 and G12R bifacial modules utilizing both TOPCon and HJT technologies, targeting the residential and commercial & industrial (C&I) rooftop solar markets.

On June 12, a leading PV enterprise officially commenced production of a new-generation perovskite tandem cell line, achieving a stable mass-production conversion efficiency of 31.2%, significantly surpassing the theoretical limit of traditional crystalline silicon cells. By improving encapsulation solutions, the enterprise resolved the perovskite degradation issue, enabling module outdoor service life to reach 30 years. Large wind and solar power bases in western China have already secured initial procurement intentions. The adoption of this new technology will reduce the levelized cost of PV power generation over the long term, driving rising demand for high-end PV auxiliary materials and encapsulation films.