Power generation company Zheneng Electric Power has signed an investment agreement with Chinese solar cell manufacturer Akcome to invest 300 million RMB to subscribe for the newly added registered capital. Zheneng Electric will hold 20% of Akcome’s shares after the investment is completed. All the funds will be used on the construction, production and operation of high-efficiency HJT solar cells and shingled module projects.
iCell by AkcomeThe quick rise of HJTThe strategic investment of Zheneng Electric Power proves market recognition towards Akcome’s technology advancement, development quality and future prospects.HJT cells have combined the advantages of crystalline silicon cells and thin film cells. It boasts higher conversion efficiency, simpler production process, and greater scope for cost reduction. With a much lower LID than other technologies, HJT has 15%-20% higher 25-year full life cycle power generation than that of PERC. It has the potential to become the third-generation mainstream cell technology.Zheshang Securities predicts that 2021 will mark the start of investments on HJT, and that the production capacity will reach 10 to 15 GW. With the localization of equipment, cost reduction of silver paste and target materials, and the enhancement of conversion efficiency, HJT may usher in rapid development in 2022, and the production capacity is expected to reach to over 30 GW.Akcome, a first moverAkcome now has four factories in Suzhou, Taizhou, Ganzhou, and Huzhou in China. Among them, the Huzhou factory is the first GW-level HJT production base of the country, with a planned production capacity of 6 GW HJT cells and 6 GW high-efficiency modules. It gives Akcome an edge in production capacity, HJT cell and module technologies, and cost, etc.Akcome has started the commercial production of the HJT iCell, which has an average efficiency of over 24%. It is planned to realize the production capacity of 2.4 GW by the end of 2021 in the Huzhou factory.The high-efficiency shingled modules based on HJT cells have a power of up to 575W and over 22% efficiency. On December 23, 2020, Akcome launched iPower, the first ever module based on HJT cells. With the iteration of iCell and the improvement of module technologies, Akcome will continue to provide customers with iPower 4.0/5.0/6.0 series and more.Akcome has taken the lead in HJT in terms of production capacity and advanced technology. The company has the potential to become a leader of next generation cell technology.Join forces to build HJT giantZheneng’s investment in Akcome is a start of their cooperation. The two parties will continue to cooperate in the new energy market, technology, capital, industrial chain and other fields.Zheneng Electric Power is a holding subsidiary of Zhejiang Energy Group Co., Ltd. mainly engaged in thermal power generation. Its investment in power production has been expanding year by year, making it a leading regional energy company in Zhejiang Province and even across the country. Its cooperation with Akcome could make the most of their advantages. Akcome said that after joining hands with Zheneng, the company will continue to invest in high-efficiency modules and cells, promote the development of HJT technology, further upgrade the cell production line, and win the market with service, quality and differentiated products. It is predicted that the company’s production capacity of HJT cell will reach 4GW by the end of 2021, which will make it the world’s largest HJT cell manufacturer.
