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1. Please tell us how the business has been for LONGi in 2021. Do you want to highlight any specific achievements for this year?
As you can see across various public domains, LONGi has achieved number one shipment, for both wafer and module supply globally. Our global shipment quantity is around 58 gigawatt of the wafer and 24 gigawatts of the module for the year 2020. For 2021, we are targeting shipment to increase with our global market share going up to about 30%, from 26%. Our primary focus will be to enhance the overseas market.
2. Could you brief us about the current strengths of LONGi in terms of its size, financial strength, highest shipment, highest production capacity etc.
In 2020, LONGi had the highest production capacity in the world for wafers and modules. Wafer capacity is 85 gigawatts in 2020 while module capacity achieved is 50 gigawatt. So by 2021, this year, we are talking about 105 gigawatts of wafer capacity, and 65 gigawatts of module capacity to be achieved. In 2021, we have achieved operating revenue of around 8.4 billion US dollars.
In terms of financial strength, LONGi likes to maintain a good balance in its operating ratios and
Its liability ratio is 59%. LONGi is a company that has innovation in its DNA. We have spent over a billion dollars in R&D cumulatively, which makes us the highest spender in R&D globally, amongst PV companies. This ensures that we are able to bring the best product out for our customers continuously.
As far as the shipment is concerned, LONGi was the first company globally to achieve shipment of over 20 gigawatts amongst all the PV companies. This was possible because of our spending on R&D and continuous reinforcement of customers’ trust who placed large orders. This reflects in our shipment value as well.
3. What are some of your existing specialised products for the Middle East region? What products are there in the pipeline?
Currently, the master products in the Middle East region are our Hi-Mo 4 and Hi-Mo 5 products. Being a new product released in Q4 last year, Hi-Mo 5 now is well accepted by our the Middle East and Africa distributors and also the CNI projects, developers, EPC.
Based on the different project scenarios, our products are well accepted by our customers across the region. Also, we have a release of our 66 cells Hi-Mo 4 monofacial module, especially for residential and commercial projects. For regions like South Africa, black modules are well accepted. So, combined with all these product ranges, we can provide the customer with all project scenario solutions.
I want to emphasize especially the N-type. After the black, we will release the new product N Type TOPcon. We just got the testing confirmation from the Institute for Solar Energy Research (ISFH), our entire TOPcon cell has reached a conversion efficiency of over 25% which is the first time for any TOPcon cell with the commercial size silicon wafer to reach such a high level. Also, we are the only ones who have been tested at the ISFH in Germany which is one of the highest credible agencies in the world for testing cell efficiency. Therefore, the next generation after the cell will be TOPcon.
4. Which emerging technologies are being deployed by LONGi under the distributed generation segment?
The PERC Cell was the first generation technology that developed the mono module. The N-type TOPCon and HJI are the next generation technologies. These are two types of technologies and the new products will be released under these technologies.
5 Could you please brief us on your presence in the Middle East region?
LONGi has made a considerable presence across the world. Due to the market potential, we see the MENA region as our new growth frontier. We have a robust network of around 40 distributors at present and we are building a strong local team to support our clients across the region. For better service, LONGi has its team present in the Middle Eastern, Israel, North Africa, Great Africa and South Africa. So the Middle East and Africa will be the key markets for LONGi going forward.
6. Your outlook for future opportunities in the Middle East region?
We see the Middle East as the potential market in both the segment – utility and distributed generation. Many overseas developers are investing in utility projects. As compared to utility, distributed generation is still an emerging market and developers are concerned over their profits.
We entered a bit late in this region as compared to our competitors but we will be moving quite fast. We are planning to increase our market share in the Middle East to 30% from an existing share of 10% at the end of this year. As a part of LONGi’s strategy, we are planning to run the marketing campaigns for promoting solar backed by the personal support from team LONGi’s presence across the Middle Eastern region.
7. Would you like to add anything else for our readers?
Being a leader in innovative products, LONGi is very committed to the Middle East region and we are looking at this market as a very important market for us. We are proud to have achieved 30% of distributed generation market share in the first half of this year itself.
We have our three main products on which we have our strong focus. These are the Hi-MO 4 in two configurations 66 and 72 cell and Hi-MO 5 in the 72 cell configuration. Our customers are also showing continuous faith in our products.