Lingda Group to Raise Capital for TOPCon Expansion

PVTIME – On August 23, Lingda Group Co., Ltd. (hereinafter referred to as “Lingda” announced that it will be raising capital via the issuing of shares to invest in the establishment of a TOPCon solar cell production project.

The number of shares to be issued this time does not exceed 79,649,998 shares (including the number), and the final number of shares to be issued is subject to the number of shares approved by the China Securities Regulatory Commission for registration.

The total amount of funds raised from the issuance of stocks will not exceed RMB 120 million (including the amount), and the net proceeds after deducting the issuance costs will be invested into the Jinzhai Jiayue New Energy Phase II 5.0GW high-efficiency TOPCon production project and to supplement Lingda’s working capital.

Solar has been the fastest growing renewable energy source in the past ten years, and technological innovation is its inherent “gene”. The good development prospects of the solar photovoltaic industry have attracted a large amount of resources to invest in the research and development of solar photovoltaic power generation technology. As technology continues to advance and mass production conversion efficiency continues to increase.

Presently, the mainstream high-efficiency battery types include PERC, TOPCon, HJT, and other technologies. PERC technology has become mature. Research on TOPCon and HJT cells has been carried out on a large scale, and their conversion efficiencies have gradually increased. Lingda stated in the announcement that, “ISFH’s research results show that the theoretical efficiency of solar cells is analyzed based on the concept of carrier selectivity, and where the passivation contact cell structure is adopted, such as TOPCon. The ultimate efficiency of this type of cell is 28.2%~28.7%, which is higher than that of heterojunction at 27.5% and PERC at 24.5%, very close to the ultimate efficiency of crystalline silicon solar cells of 29.43%.”