It’s undeniable that solar panels are the way of the future, especially in our hot Australian climate and energy prices only getting more expensive each year. They’re becoming increasingly popular due to their ability to ‘sun-bake’ and absorb natural energy from the sun, rather than using traditional fossil fuels that harm the environment and your wallet.
Green energy is becoming the new normal worldwide, and with one of our best-selling brands Longi making new, long-term deals with PV cell manufacturers and polysilicon producers TongWei Solar, it’s easy to see why some of the best solar panels in Australia are more affordable than ever.
As two Chinese companies including Tongwei Solar Group (a PV cell maker and polysilicon producer) and Longi Green Energy Technology are acquiring 30% shares of each other’s respective wafer and silicon businesses. By investing in each other’s companies they will be agreeing to a long term relationship and due to this cooperative agreement we are confident that TongWei Solar panels are a sound financial and long term investment.
Agreeing to equal stakes will strategically support each other’s supply chains. Longi’s 15GW monocrystalline wafer factory in northwestern China’s Ningxia region is handed to Tongwei. In turn, Tongwei Solar will be giving up an equal stake in its own crystalline silicon factory in Inner Mongolia, according to the group’s chairman Liu Hanyuan.
By doing so, each company will plan to purchase at least 75% of each other’s future outputs as part of the complex agreement which has been announced ahead of the SNEC PV Power Expo 2019. As Tongwei Solar produces around 50,000 tonnes of high-purity crystalline silicon, both companies purchasing the 75% of each other’s outputs means a great deal for them to expand and stabilise their respective supply chains – which will lead to a better price for Longi Solar Panels and TongWei Solar Panels in the future!
The agreement with TongWei Solar is a well calculated and strategic move for Longi Solar as they are the largest mono player in the global solar market; their monocrystalline wafer capacity reached 28 GW at the end of 2018, while they aim to hit 36 GW by the end of 2019. The efforts made by these two leaders in Solar Energy means their already commanding force in the industry will be even stronger thanks to their tie-up arrangement.
A huge step forward for green energy and solar panels Australia, Tongwei is also committed to developing bifacial and passive emitter rear contact technology and continues to focus on a range of energy efficient alternatives. By expanding these markets as well as their cell and module production capacity by 2020, Tongwei and Longi’s new deal will make solar panels in Adelaide and Australia wide the best on the market.