Aiming for a 45 GW annual production capacity for solar cells by 2022, Aiko Solar is adding 4.3 GW capacity in Yiwu city where its cells produced may exceed 23% efficiency level, the Chinese company said. (Photo Credit: Guangdong Aiko Solar Energy Technology Co., Ltd.)
- Aiko Solar is building crystalline silicon solar cell project with annual capacity of 4.3 GW
- The Yiwu located project will churn high efficiency solar cells on 180mm-210mm wafer size
- Company plans to invest part of proceeds from RMB 250 million raised through non-public issuance of shares
Aiko Solar has announced it will build a high efficiency crystalline silicon solar cell factory in China with an annual capacity of 4.3 GW. Here, the Chinese cell maker will be producing cells based on up to 210 mm wafer size.
This production project in Yiwu city in Zhejiang province will produce cells with efficiency levels up to 23%, a technical high for the industry, reported Polaris Solar Photovoltaic Net.
Proceeds for its construction will come from funds raised by the company through non-public issuance of A shares in 2020 adding up to a total of around RMB 250 million ($35 million). As per the report, Aiko Solar will invest money in the 4.3 GW fab after deducting issuance expenses.
Before the above money can start flowing in for the project, Aiko Solar says it will continue to invest its own funds to advance the project.
In January 2020, Aiko Solar shared its production capacity expansion plans for high efficiency crystalline silicon solar cells aiming for 45 GW by 2022, increasing from 9.2 GW at the end of 2019.