Industry giants dip the bottom of the photovoltaic market photovoltaic concept of "spring breeze"

After experiencing the cold “cold” industry in the second half of last year, the photovoltaic industry has not really recovered. Faced with unprecedented changes in the industry, some industry giants have begun to try to “bottom the plate” photovoltaic market; conversely, a few old photovoltaic companies have sought to diversify into other areas.

Recently, an overseas report quoted a spokesman for Spanish solar equipment manufacturer Isofoton saying that the company has signed an agreement with Tianjin Lishen Battery Co., Ltd., a subsidiary of CNOOC, to establish a joint venture company to develop solar projects in China. The reporter confirmed yesterday from insiders of the CNOOC Corporation that the third-largest oil company in China does have plans to enter the photovoltaic industry.

It is reported that the newly formed joint venture company is called Isofoton Lishen New Energy and its headquarters will be located in Tianjin. The initial investment of the company is expected to be US$300 million for the development of 150 megawatts of solar photovoltaic projects in 2012; the funds will come from Tianjin Lishen Battery Co., Ltd. An Isofoton spokesperson stated that Tianjin Lishen’s shareholding is 51%; the remaining 49% will be held by Isofoton. Isofoton will provide technical support for the manufacture and sale of solar equipment. Tianjin Lishen Battery will be responsible for mass production of solar cells and provide funding for the development of solar plants.

Previously, Taiwan's foundry giant Hon Hai Group has taken the lead in the photovoltaic market. In December last year, it announced that it would invest US$30 million to establish the Fusheng Energy Company in Jiangsu to produce solar cells.

According to the latest data from Bloomberg New Energy Finance, a research institution, the total global investment in solar energy technology soared 36% last year to $136.6 billion, which is almost double the investment in wind power.

For the phenomenon of this industry-based “bottom-hunting” photovoltaic industry, Xiao Zhong, a research fellow of China Investment Advisor New Energy Industry Group, said that although photovoltaics are currently in an industrial downturn, the development prospects of the photovoltaic industry are beyond doubt. For companies with vision and strength, it is the best time to invest in the photovoltaic industry.

It is worth noting that some companies in the photovoltaic industry have begun to play the "mixed operations" calculation. Last month, Yingli Group unveiled the concept of mixed operation for the first time and began to engage in agricultural fields such as olive oil and pig farming. Miao Liansheng, chairman of Yingli Group, believes that “mixed business operations” can better adapt to changes in the outside world.