Risen Energy Expands Global Footprint with 150 MW Module Order from Malaysian Power Station

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Oct 11, 2019, 07:38 ET

NINGBO, China, Oct. 11, 2019 /PRNewswire/ -- Chinese solar panel maker Risen Energy Co., Ltd. recently announced the receipt of an order to provide 150 MW of high-efficiency solar PV modules to a power stations in Malaysia. Malaysia's Minister of Energy, Science, Technology, Environment and Climate Change Yb Yeo Bee Yin attended the agreement signing ceremony. It's the biggest module order Risen Energy has to date won both in Malaysia and from an overseas floating power station.

As part of the agreement, Risen Energy will supply high-efficiency Jaeger 144 modules with an output power up to 395W each to the project. The modules will be shipped in batches starting this month and the delivery is scheduled to be completed by June 2020.

Risen Energy president Xie Jian said, "Malaysia is one of our key emerging markets as it boasts abundant light resources and policies favourable to the industry. We are excited to be a part of the project in Malaysia. To ensure the smooth operation of the power station, once completed, we will equip the facility with our Jaeger modules, which have proven better performance in resistance to light induced degradation (LID) and light and elevated temperature-induced degradation (LeTID). Our optimised Jaeger modules can minimise hotspots and the impacts from shade effect on their performance in power generation. With lower total cost of ownership and labour expense, our modules will bring the project owner a lower levelised cost of electricity (LCOE) and higher income from power generation."

Besides the PV market in Malaysia, Risen Energy has expanded its presence across major markets in the U.S., Europe, Southeast Asia, Central Asia and the Asia-Pacific region. Notably, the company has achieved remarkable results in Kazakhstan and Ukraine, among other markets along "the Belt and Road." Additionally, Risen Energy is accelerating the growth of its energy storage business as its integrated "PV + energy storage" and "PV + energy storage + charging". Furthermore, smart micro grid solutions have been used in commercial applications.

Risen Energy is experiencing an increase in both its top line and bottom line as the firm continues expanding globally at a steady pace. Its financial forecasts for the first three quarters of 2019 expects a net profit between 765-815 million yuan (approx. US$107-114 million), an increase of 262.40%-286.09% year-on-year.

SOURCE Risen Energy Co., Ltd