Daily News Wrap-Up: Solar Inverter Supplier Solis Reports 74% Rise in Revenue YoY

Here are some noteworthy cleantech announcements of the day from around the world:

Ginlong Technologies, a global solar inverter distributor and manufacturer, reported that its revenue increased by 74% year-on-year. In the first three quarters of 2020, its revenue was $202 million. Besides this, the parent company reported a year-on-year net profit increase of 189% and a month-on-month net profit increase of 53%. In the first three quarters of 2020, the parent company’s net profit reached $31.4 million in the first three quarters of 2020. The company’s basic earning per share was $0.1, a year-on-year increase of 106%, and the weighted average return on equity was 9%, a year-on-year increase of 3%.

Canadian Solar has launched its high-power, high-efficiency modules with a power output of 665 W. The new generation modules will deliver a competitive levelized cost of electricity as it reduces the balance of system and other charges for solar power projects. The new monofacial and bifacial solar modules are optimized with tracker and inverter designs to support an easy installation of solar projects.

RenewSys, a solar module manufacturer, has launched ‘DESERV Galactic Ultra,’ a range of high output solar modules. These new modules have been designed using half-cut mono-passivated emitter and rear cells (PERC) G1 to enhance solar modules’ output and performance, even at higher temperatures.


Cleantech Solar announced the execution of a long-term solar power purchase agreement with Osotspa Public Company Limited for a combined 3 MW of rooftop solar system on Osotspa’s five facilities across Thailand. Cleantech Solar will finance, design, install, maintain and operate 3 MW of rooftop solar systems for the full term of the agreement.

Patel Engineering, an Indian infrastructure and construction service company, has bagged the 2 GW Subansiri Lower Hydro Electric project worth ₹15.64 billion (~$ 212.02 million). The project is located at Kolaptukar village in the Kamle district of Arunachal Pradesh.

Australian Gas Network, part of the Australian Gas Infrastructure Group, has completed the electrolyzer installation, with final construction work of the new Hydrogen Park South Australia (HyP SA) facility due to be finished shortly. The project is backed with a 4.9 million Australian Dollar (~$ 3.49 million) grant from the South Australian Government’s Renewable Technology Fund.

XSD International Paper, a Malaysia-based integrated papermaker, has entered into a power purchase agreement with NEFIN Group. The company will install 9.2 MW of solar project on its planned facilities in Kulim Industrial Park located at Padang Meha in Kedah, Malaysia. NEFIN Group will build a 9.2 MW solar project that consists of around 21,000 solar panels. The construction of the project will be completed by the third quarter of 2021.

Robex Resources, a West Africa- based Canadian mining company, has reached an agreement with Vivo Energy, a U.K.-based petroleum company, for the supply of solar energy for five to fifteen years to the Nampala Mine in Mali. The project includes a 3.9 MW solar facility and a 2.6 MWh battery, which will be integrated into the mine’s existing thermal power facility.

MG Motor India and Tata Power Corporation Limited have inaugurated the first superfast electric vehicle charging facility in Nagpur, Maharashtra. The project is a part of MG Motor’s recent partnership with Tata Power for the deployment of 50 kW direct current superfast EV charging facilities across the country.

Here is our previous daily news wrap-up.

Image credit: USGov