China National Building Material (CNBM) will get into production, sales and installation of thin film solar cell/module and solar equipment in China under a joint venture (JV) through its indirect subsidiary, CNBM New Material. The fab will have an annual production capacity of 200 MW.
The JV has been announced with Triumph Technology and CNBM (Chengdu).
Triumph is another CNBM subsidiary that operates in the space of new glass, new materials, new energy and new equipment, and Triumph's indirect subsidiary CNBM (Chengdu) that operates in the space of cadmium telluride (CdTe) thin film solar cell production, sales and installation of PV systems.
An announcement from CNBM reads, "The establishment of the Joint Venture can implement the Strategic Cooperation Framework Agreement between the Parent and Ruichang municipal people's government, which is conducive to promoting the aggregate project; it can make full use of the core process and technology with independent intellectual property rights owned by Triumph Technology to build a production line of cadmium telluride thin film power generation glass with annual production of 100MW which is beneficial to stimulate the local economy, build a core market and obtain good investment returns."
Through the JV that will have a term of 50 years, the trio will produce, sell and install thin film solar modules and solar equipment. It will also explore solar PV power generation projects. The three companies will invest RMB 1,000 million ($141.5 million).
As per CNBM, the JV will be established in Ruichang, Jiujiang, Jiangxi province of China once all relevant approvals are in place.
Earlier this month in April 2020, another CNBM subsidiary Kaishang Technology was announced to build a CdTe thin film solar cell fab in Qingdao, China with 600 MW annual production capacity.