Hanwha Qcells to Build Largest U.S. Solar and ESS Project by 2028

Recently, SDIC Jiangsu New Energy successfully secured a development quota for a 500,000 kW offshore PV project in Jiangsu Province. This is the largest single-unit offshore PV project obtained by the company in the Yangtze River Delta region, and it also represents a key strategic step in the group’s efforts to expand its green energy footprint along the southeast coast. The acquisition of this quota marks a significant outcome of the company’s thorough implementation of the group’s new energy development strategy and its proactive integration into the construction of the 10 GW-level offshore PV base along the Jiangsu coast. The project adopts an intensive three-dimensional offshore development model, avoiding all ecologically sensitive areas throughout the process. After completion, it is expected to supply an average of 610 million kWh of clean electricity annually, save 186,000 mt of standard coal and reduce carbon dioxide emissions by 489,000 mt per year, and aims to create an eco-friendly benchmark offshore PV project along the coast.

Currently, mainstream spot quotes for PV-grade EVA resin are at 9,600-9,700 yuan/mt, with prices edging up. In July, several petrochemical companies carried out maintenance and production cuts on their EVA units, tightening the supply of PV-grade EVA raw material and providing a floor for spot prices. Traders actively raised their offers. However, on the demand side, downstream module growth fell short of expectations, and film factories maintained purchasing as needed, leaving the overall market in a state of weak supply and demand. This round of price increases is expected to be difficult to sustain. Going forward, it will be necessary to keep tracking the maintenance progress of various petrochemical units and plans to switch production to PV-grade EVA, in order to gauge the price direction of PV-grade EVA.

Recently, the Palmira III PV project in Colombia, built by PowerChina, obtained the final handover certificate from the owner, successfully completed the engineering construction and two-year operation and maintenance tasks, and achieved a full-cycle closed loop of construction, O&M, and handover. As the first PV power station built by PowerChina in Colombia to be completed with high quality and smoothly handed over, it has set a new benchmark in the Latin American green energy sector.