Apple invests in Sichuan solar energy or is not optimistic about China's photovoltaic

Abstract Last weekend, the news that "Apple invested in China's photovoltaic industry" triggered a heated discussion in the Chinese PV industry. "Daily Economic News" reporter learned that on April 16, SunPower announced that it is cooperating with Apple, which is located in Sichuan...
Last weekend, the news that "Apple invested in China's photovoltaics" triggered a heated discussion in the Chinese PV industry. "Daily Economic News" reporter learned that on April 16, SunPower announced a partnership with Apple to involve two 40MW low-concentration photovoltaic power plant projects in Aba Prefecture, Sichuan Province. After the completion of the two projects, it will be shared by SunPower's shareholding company in China, Sichuan Haotian New Energy Development Co., Ltd. (hereinafter referred to as Haotian New Energy) and Apple.

The investment did not disclose the amount and cooperation method. According to the data, the approval date for Haotian New Energy Industrial and Commercial Registration is April 15th. The listed companies Zhongyuan (002129, SZ) and *ST Ledian (600644, SH) are among the suspension periods. *ST Music Secretary Dong Xun told reporters that the company had previously signed a confidentiality agreement, and the relevant situation needs to be verified and released.

The investment in Apple is due to environmental goals or optimistic about China's PV industry. The views in the industry are not consistent. However, many industry insiders said that Apple is mainly to achieve the "100% electricity from renewable energy" environmental commitment.

Apple "fancy" China PV

Apple's investment in the world has attracted much attention. The news of its investment in photovoltaic power plants in China has also touched the sensitive nerves of China's PV industry.

Lisa Jackson, Apple's vice president of environmental affairs and former US Environmental Protection Agency, told the Associated Press on April 16 that Apple's new solar project in China is 40MW smaller than some of its investment projects already announced in the US. She also said that this is just the beginning of Apple's use of clean energy in China.

At the same time, SunPower, the partner of Apple's investment, also released an official press release on April 16th, saying that the cooperation projects with Apple include Aba Prefecture Hongyuan Huanju Ecological Energy Co., Ltd. (hereinafter referred to as Hongyuan Huanju) and Aba. Two 20MW photovoltaic power plant projects of the state of Zoige Huanju Ecological Energy Co., Ltd. (hereinafter referred to as Zoige Ring).

According to the plan announced by SunPower, the above two projects are expected to be completed by the end of this year, and will be shared by Haotian New Energy and Apple. SunPower did not mention the contents of "Apple's shareholding" and "joint venture with Apple", which were popular among domestic media. The "Daily Economic News" reporter noted that Apple's investment plan involves the company's current business registration information for the three companies including Haotian New Energy, Hongyuan Huanju and Ruoergai Ring. Among them, Haotian New Energy registered capital reached 2.685 billion yuan, which was established as a joint venture for Zhonghuan, *ST Ledian, SunPower, Sichuan Development (Holdings) Co., Ltd. and Tianjin Jinlian Investment Holdings Co., Ltd. The company's major shareholder holds 26.8% of the shares; SunPower only holds 4.6% of its shares through its Hong Kong subsidiary.

Zhonghuan announced that its wholly-owned subsidiary Sichuan Zhonghuan Energy Co., Ltd. holds 90% equity of Hongyuan Huanju and Zoigehuan respectively. The two companies mainly operate high-altitude modern animal husbandry industry and ecological energy comprehensive development projects and have obtained government records. Hongyuan Huanju has passed the grid inspection and acceptance in February this year.

The purpose of investment is focused on environmental protection

Hongyuan Ring and Zoige Ring are two companies in China that use SunPower's low-concentration photovoltaic technology (LCPV) to build power stations. The cooperation project will be operated by Haotian New Energy and Apple in the future. . Zhonghuan shares have also announced that the power plants operated by the above two companies include, but are not limited to, sales, cooperative operations and self-operated projects of the project companies.

Why did Apple choose to operate a power station in Sichuan Province with a company that SunPower shares? In fact, Apple's six 90-kilowatt PV projects in California, Nevada, and North Carolina use SunPower's solutions. SunPower is currently one of the few US PV companies to participate in PV power plants in China.

This shows that SunPower's "matchmaking" is an important factor in Apple's investment. From the perspective of Apple, this investment does not seem to be a domestic rumor that "the optimistic about China's photovoltaic industry" and "to enter the photovoltaic industry."

Apple is more like a purchaser of photovoltaic power plant products, and has not disclosed its willingness to participate in photovoltaic equipment manufacturing or power station construction. Lisa Jackson also told the Associated Press that Apple's retail stores in the United States use clean energy and hope to achieve clean energy use in China.

On February 10, Apple announced that it would spend $850 million to purchase 130 MW of electricity from First Solar's power generation project, making it the largest corporate user order ever received by the US solar industry.

Apple has always had a plan to "100% of all company facilities use clean energy", mainly because the company's facilities use electricity is consistent with the company's investment in clean energy. Many industry insiders pointed out that Apple's investment in China is to achieve the above goals as much as possible, reflecting its corporate social responsibility and the company's overall green strategy. Strictly speaking, it is not an investment in China's PV industry.

Apple concept spread to photovoltaic industry


In fact, the significance of Apple's investment has exceeded its essence. An investor who has long been concerned about the photovoltaic industry told reporters that although the investment is more to reflect social responsibility, Apple will not only vote for this in the Chinese PV field.

The efficiency of photovoltaic power generation is a major trend in the industry from beginning to end. Zhonghuan said that the technical route of the power station constructed in cooperation with SunPower is different, and the cost of electricity can be fully diluted to less than 0.4 yuan. However, this technical route has not been verified by large-scale projects for a long time. The investment of Zhonghuan has also been cited. With a lot of criticism, Apple's investment has undoubtedly provided great recognition.

Yao Yao, a researcher at Guojin Securities, pointed out that in the current A-share market, the appeal of the word "Apple" must not be underestimated.

Recently, China's PV industry has made huge investments, and the industry's expectation of industry recovery has been increasing. On April 18, China Minsheng announced that it will build a 2000MW photovoltaic power generation project in Ningxia with a total investment of about 15 billion yuan. Upon completion, it will become the world's largest single photovoltaic power plant project.

"Partial Enterprise Clean Energy Project

apple

In February 2015, $850 million joined forces with First Solar to build the largest solar farm in the United States.

Google

In 2014, a 400MW wind power project was signed.

Microsoft

In the past two years, Microsoft's wind trading project involved 285 MW of wind energy.

IKEA

In September 2014, it announced that it will become a 100% renewable energy company by 2020 and has already benefited from global wind energy projects.

Amazon

In January 2015, a 150MW wind energy project was signed.

Walmart

I have been covering solar panels on the roof of my own shopping mall and now have 100MW of solar energy.

Source: Public reports

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