Vertically integrated solar module manufacturer from China, Hengdian Group DMEGC Magnetics Co., Ltd. (DMEGC) has shared plans to expand its solar cell production capacity by an additional 4 GW.
In a stock exchange filing, the management said the idea is to invest approximately RMB 1.226 billion ($190 million) on building high efficiency large size monocrystalline solar cell production capacity targeting fully ramped up annual capacity of 4 GW. On completion the project is anticipated to generate sales revenues of RMB 2.87 billion ($446 million) while bringing in annual profits of close to RMB 226.27 million ($35 million).
Within 9 months of construction completion, it aims to gradually ramp up the capacity of the new production line that will be built in Hengdian Photovoltaic Park in Dongyang city of Zhejiang province.
Like several of its peers in the Chinese solar PV manufacturing space justifying their massive expansion plans citing future market demand, Hengdian Group also said this expansion plan is part of the company's development strategy and that it will improve the company's competitiveness in the market. The management also believes producing large sized monocrystalline cells will enable it to give full play to its core competitiveness while increasing its market share to reduce operational risks.
The demand and supply market of large sized solar modules seems to be growing as several manufacturers are rapidly announcing plans to go in for this space. While DMEGC did not specify the cell sizes this 4 GW line will cater, one can assume this will include at least one of the two trendy large sizes – 182mm and 210mm, but maybe even both.
TaiyangNews discussed high efficiency PERC modules with M10/182mm cells in depth with leading manufacturers during a virtual conference in December 2020 accompanied by a report launch on the subject, titled High Efficiency Solar. It is available for free download here.