China’s stock market surged over six trading days around the recent National Day holiday, TCL Zhonghuan appointed Wang Yanjun as its news CEO, and Runergy started production at its new 2 GW solar module plant in Alabama, amid a looming patent lawsuit from Trina Solar.
Image: TCL Zhonghuan
The Shanghai Composite Index surged 26% over the six trading days around China’s National Day holiday, driven by government measures to boost the economy and support equities. Solar and energy storage companies led the rally, with Longi Green Energy rising 48.54%, Trina Solar gaining 62.48%, Sungrow increasing 54.79%, and Arctech Solar climbing 53.66%.
TCL Zhonghuan said it has appointed Wang Yanjun as its new CEO, following his nomination by Chairman Li Dongsheng. With Wang’s appointment, Li will step down from his role as interim CEO, which he had held since the resignation of former CEO Shen Haoping in August.
China National Building Material Group (CNBM) has signed a strategic cooperation agreement with Golden Peaks Capital (GPC) in Munich, Germany, to strengthen collaboration on solar projects across Europe. Over the past five years, CNBM’s Kaisheng Technology subsidiary has worked with GPC on 16 projects totaling around 1.4 GW, with 800 MW already operational. Under the terms of the new deal, CNBM will provide engineering, procurement, and construction (EPC) services for GPC’s solar projects, with plans to add more than 1 GW of solar capacity per year.
SolaX Power has announced plans to acquire land in the Tonglu Economic Development Zone in Zhejiang province for a large-scale energy storage and smart energy systems R&D center, as well as a manufacturing facility. The project’s total investment is expected to surpass CNY 1.05 billion ($148.9 million), with construction set to begin within three months of signing the land transfer contract and completion set for 24 months later. The facility will include a manufacturing center for large-scale energy storage systems, an air-source heat pump center, a smart energy system production center, and R&D and testing facilities. This expansion marks SolaX’s move from distributed solar energy storage to large-scale storage and smart energy systems.
Runergy said it has started production at its new solar module factory in Huntsville, Alabama, with an annual capacity of 2 GW. The company said it expects to complete the first batch of customer orders this month. According to third-party data, Runergy ranks among the top five solar module suppliers in the US market. Despite this, it now faces a patent infringement lawsuit from Trina Solar related to tunnel oxide passivated contact (TOPCon) solar cell technology. Tongwei, meanwhile, has announced plans to acquire a controlling stake of at least 51% in Runergy, with due diligence currently underway.
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