Big Brother has been immersed in wind power for many years, but when he arrived at photovoltaic, he found that there were many detours.
01 The conversion efficiency of the notorious photovoltaic business
is 42%, and the photovoltaic business of Mingyang Intelligent, the "concentrating solar energy"
of the photovoltaic dream, is much earlier than May 2021, which is generally believed by the public. In May
2012, a company named Ruide Xingyang New Energy Technology Co., Ltd. (Hereinafter referred to as "Ruide Xingyang") was established in Zhongshan City, Guangdong Province, and this company, which still bears the label of "small and micro enterprises", has become a window for the outside world to peep at the photovoltaic business of this wind power giant for many years.
Fresnel lens high concentration photovoltaic
for today's crystalline silicon, which has not yet reached 30% conversion efficiency is deeply involved in the whirlpool of litigation, and its reputation has become sad
. According to the 2018 Mingyang Intelligent Prospectus, from 2015 to 2018, The company's photovoltaic business mainly focuses on the sales of high concentration products, but in the past four years, the company's shipments are very few. Among them, the largest delivery project is Qinghai Delingha 30MW " in 2016 , which has been repeatedly pulled out by the company to prove its performance. In 2018, the company's first prospectus occupied 18 pages of content, but unlike the assumption, this part did not appear on the wall of merit, but in the fourth part of major litigation or arbitration.
at that time. In the subsequent operation, Gansu Xinneng found that not only the actual power generation was greatly reduced from the previous commitment value, but also the equipment was sensitive to direct solar radiation, which caused the instability of the optical power prediction system of the power station, so Gansu Xinneng was successively punished by the dispatching department of Qinghai Power Grid. Gansu Xinneng, which failed to buy high-quality products at a
high price and even failed to get substantial benefits, sued Reid Xingyang and Mingyang Intelligence in court in 2018, with a lawsuit amount of 1. You know, in 2018, the net profit of Mingyang Intelligence Company was only
3.1. The Yangmeiping power station project in Dali, Yunnan, is suspected of reselling roads. The 10MW power station business of Nimu was also sued in court because the sub-company Lhasa Ruide Xingyang New Energy Technology Co., Ltd. (Hereinafter referred to as "Lhasa Ruide Xingyang") was in arrears with the contractor Qinghai Xinneng Project. Then, the 30MW project of Nimu Phase II was sued in court by Nanjing China Nuclear Energy Engineering Co., Ltd. for interruption.
In addition, due to the purchase of photovoltaic brackets, Lhasa Ruide Xingyang was sued by partners for the third time.
In the prospectus of Mingyang Intelligence, the company disclosed the revenue of photovoltaic business in recent years, including 2015, 2016, 2017 and January-June 2018. The revenue of the Company's photovoltaic products segment was RMB13,205,500, RMB116,908,900, RMB1,415,800 and RMB99,900, respectively, accounting for 0.20%, 1.82%, 0.03% and 0
% of the main business revenue, respectively . The photovoltaic business of Mingyang Intelligence in the early stage was not only unworthy of its name, but also notorious and failed.
In the announcement, Mingyang Intelligence is eager to try, trying to get a piece of the cake: considering the advantages of heterojunction batteries, heterojunction batteries already have the strength to replace PERC batteries, the company is well prepared in technology, talent and capital, and believes that the market share of heterojunction batteries will exceed 40% by 2025. The market space is more than 230 billion.
At the same time, the 3 billion project is planned in detail by the company as the third phase of construction, the first phase will be put into operation in 2021, and the third phase will be completed by 2025.
However, in contrast to the company's previous ambitions, the 3 billion project has not been heard since. At the same time, in September 2021, the company signed a 5G W heterojunction battery project with Yancheng Jingkai District, with an investment of up to 5 billion yuan, which also did not appear in the annual report of that year.
The outside world thought that Mingyang Intelligence was ready to make a fortune in silence, waiting for the company to enlarge its move, but it was a year and a half. In January
2023, Mingyang Intelligence announced that Yancheng Heterojunction Battery Phase I and Guangdong Shaoguan 2G W Heterojunction Module Project achieved "double offline, double production".
to heterojunction, the company has continuously invested in perovskite and cadmium telluride for many years. In May this year, the company once again refreshed the conversion efficiency of perovskite batteries on 50 * 50mm substrates, reaching 23.
So far, the company's layout in the photovoltaic field has fully surfaced. The announced investment has also reached 34.1 billion, which does not include the 65,689 promised to invest in the photovoltaic business.
Zhang Xiong, general manager of Mingyang Photovoltaic Market and Business Center, told the media in July this year.In terms of
shipment, according to the analysis of Soochow Securities, the company expects to export 1GW photovoltaic modules in 2023, followed by further introduction of OBB and silver-clad copper, which is expected to optimize profits.
It is worth mentioning that due to the photovoltaic and wind power terminal market customers, large energy central enterprises occupy half of the country, so the company's previous customer stickiness between wind power and five small energy central enterprises also began to bring unique advantages to the company's photovoltaic business. In June
2022, under the leadership of Shandong Energy Group, Mingyang Intelligence won the competitive index of the offshore photovoltaic HG15 project in Shandong Province in 2022. In August
this year, the company again won the bid of Zhejiang Energy Development Company in March and September, and again won the bid of 180 MW heterojunction centralized mining of Guodian Investment.
On the basis of wind power and photovoltaic, Mingyang Intelligence puts forward the integrated layout of wind and solar wings. Horizontally, the company will lay out photovoltaic, energy storage, hydrogen and other related fields, giving full play to the overall synergistic advantages of technological innovation and the layout of the whole industrial chain.
In 2022, the company's energy storage business achieved 1087 MW shipments, ranking ninth in the domestic energy storage system integration (excluding household storage) industry according to the "Energy Storage Leader Alliance" (EESA). In terms of hydrogen energy, according to the calculation of Sina Securities, the company currently has the production capacity of 1G W hydrogen production cells.
Compared with the previous layout of the company, this time, Mingyang Intelligence has obviously considered more deeply and comprehensively. From high concentration products to today's all-round layout of heterojunction, perovskite, cadmium telluride and wind and solar hydrogen storage, Mingyang Intelligence has never concealed its ambition in the photovoltaic field, "striving to enter the first echelon of the photovoltaic industry" and become the leader of wind power and photovoltaic industry.
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