- Haitai Solar of China has completed its IPO process and now listed on the Beijing Stock Exchange
- It will use proceeds to support its plans for 2 GW HJT modules mass production and 1 GW module projects
- The Chinese company will also be investing in expanding its R&D efforts with the expansion of research center
Haitai Solar, a China headquartered solar PV module manufacturer with 8 GW global production capacity, has successfully completed its initial public offering (IPO) and started trading on the Beijing Stock Exchange.
The company has not revealed how much it has been able to raise in the process, but that it issued 53.82 million shares with each priced at RMB 9.05. It plans to use proceeds to support efforts for mass production of its 2 GW heterojunction (HJT) module and 1 GW module projects.
At the same time, it will also be able to back its research and development (R&D) efforts and expand its research center. It currently has scientific research cooperation with Tsinghua University, Xi’an Jiaotong University, Nankai University among others.
Haitai Solar operates 3 production bases in Hebei’s Tangshan, Shaanxi’s Shuozhou and Vietnam where it produces modules with 166mm, 182mm and 210mm wafer sized cells.
“Haitai Solar’s debut on the Beijing bourse is a launchpad from which the company is able to further cement its leadership in the booming Renewable Energy Sector and raise funds for its key investment projects down the pipeline,” it added.
Haitai Solar also operates business divisions of utility scale power plants, mounting systems, energy storage and hydrogen.