Chinese solar PV producer Risen Energy has announced plans to invest RMB 44.65 billion ($7 billion) for manufacturing and power generation in Baotou, Inner Mongolia for which it has entered into an investment framework agreement with the local government.
This investment will enable it to produce 200,000 MT silicon metal or industrial silicon, 150,000 MT high-purity polysilicon, 10 GW N-type high efficiency wafer and 3 GW module assembly project. As for power generation capacity to cost RMB 25.2 billion ($4 billion), it will build a 3.5 GW solar PV power plant with a 1.6 GW wind energy project combined with energy storage. Construction period is expected to last 4 years.
Power from the solar and wind energy projects will be used by the company to power the upstream activities on site to deal with grid volatility. As for arranging the finances, Risen Energy said it should come from the company's own funds or self-raised funds. The company's announcement in Chinese language can be viewed on the Shenzhen Stock Exchange.
In Baotou, Risen Energy's manufacturing and power generation project will be located in Guyang Jinshan Industrial Park (Phase II). Baotou is also where polysilicon manufacturer Daqo New Energy plans to expand as it recently announced (see Daqo's 200,000 MT Polysilicon For Solar Industry).
Risen Energy is already building a new solar module facility with 3 GW capacity in Malaysia, as announced by the country's Ministry of International Trade and Industry (MITI) in June 2021 (see Risen Energy Building 3 GW Malaysia Solar Fab).
During TaiyangNews High Efficiency Solar Technologies Conference on day 2, Po-Chuan Yang of Risen Energy stressed on heterojunction (HJT) during his presentation and said it will become the mainstream cell technology in 2024.