For an estimated $300 million investment, solar panel maker VSUN plans to set up a PV industrial park where it will set up 4 GW worth of high efficiency solar module production capacity along with 2 GW high efficiency solar cell capacity, over the next 2 years.
The official announcement follows its investment agreement signed earlier in December 2020 with Hoà Phú Industrial Zone in Bắc Giang. To come up on 42 acres space, the park will be constructed from 2021 to 2022 with construction expected to launch in Q2/2021.
Under phase I, it will develop 2 GW solar cell capacity followed by 4 GW solar modules capacity under phase II. On completion it is expected to roll out annual capacity worth $1.5 billion.
In the near future, the company pointed out, VSUN PV Indsutrial Park will purchase advanced equipment to produce high efficiency modules and 210mm, 182mm PERC and HJT cells. "It is designed with the whole manufacturing line including solar cell production, solar module assembling, quality control, raw materials and logistics. It can better meet the global customers' demand, improve cost efficiency, and strengthen the developing industry clusters in PV industry and high technology," stated the company.
Headquartered in Tokyo, Japan as part of Fuji Solar currently VSUN touts a production base in Bắc Giang province of Vietnam and another in Zhejiang province of China. In May 2020, the company launched a new line of PERC half-cell based modules with up to 450W power output using large format 166mm silicon wafers, claiming a conversion efficiency of up to 20.37%, expecting it to 'most likely' become VSUN's flagship product line.
Recently, Jiangsu Seraphim of China announced investment in a new solar PV module assembling factory in Vietnam with 750 MW annual capacity (see Seraphim Announces 750 MW Module Fab In Vietnam).
Also in Vietnam, which is an attractive production base for companies eying the import tax protected US module market, JA Solar held a groundbreaking ceremony for its 3.5 GW high power module factory project in November 2020.