Jietai Technology 26 GW n-type cell facility begins construction; Toy company Shifeng Culture forays into PV business; LONGi to invest in second phase of Tongwei facility; Construction begins for Royal Group TOPCon facility; GCL System to increase capital of subsidiary for production expansion.
Construction begins for Jietai Technology n-type cell facility: High-efficiency solar cells manufacturer and seller Jietai Technology announced the ground breaking ceremony of its 26 GW high-efficiency solar cell facility. Located in Lianshui Airport Industrial Park, the facility has an investment of about RMB 13 billion ($1.8 billion) and is considered to be one of Jietai’s largest n-type solar cell manufacturing facilities. Once completed, the annual output value of the facility will be about RMB 35 billion ($4.8 billion)
Toy company Shifeng Culture enters PV module industry: China based toy company Shifeng Culture announced that it plans to use RMB 100 million ($13.93 million) from the remaining funds that was raised for a toy production project, which now stands terminated. The funds will be used to increase capital in Anhui ChaoLong Solar, and to obtain 25% of its equity. Anhui ChaoLong focuses on producing highest efficient PV modules. The company said that through this capital increase, it quickly wants to diversify and enter the field of sustainable development of photovoltaic modules and form a new profit growth point.
LONGi to invest in Tongwei Yongxiang Phase II 200,000 ton silicon facility: Integrated solar PV manufacturer from China Tongwei stated that its wholly-owned subsidiary Yongxiang Co., Ltd., and Chinese vertically integrated solar PV company LONGi will jointly invest in Yunnan Tongwei Phase II facility. With this, the registered capital of Yunnan Tongwei will be increased from RMB 1.6 billion ($0.22 billion) to RMB 5.6 billion ($0.78 billion). Earlier, Yongxiang and LONGi had invested RMB 2.04 billion ($0.28 billion) and RMB 1.96 billion ($0.27 billion) respectively. After this capital increase, Yongxiang now holds 51% of the equity, while LONGi holds 49% of the equity in Yunnan Tongwei. The facility is expected to be put into production by 2024.
Royal Group begins 20 GW TOPCon facility construction: Dairy company empowered with photovoltaic technology, Royal Group, shared the progress of its photovoltaic sector. The company said that:
- The construction of a 20 GW TOPCon solar cell facility of Huangshi Agri-Photovoltaic in Fuyang, Anhui has begun
- A 5 GW TOPCon cell production line is expected to be completed by October 2023
- Another 10 GW of production lines are expected to be put into operation by 2024, reaching an annual production capacity of 20 GW of TOPCon cells
GCL System to increase capital of subsidiary: Chinese solar PV cell and module manufacturer GCL System Integration Technology Co. Ltd. said that its holding subsidiary, Hefei GCL System Integration plans to use its own funds and raised funds to increase the capital of its wholly-owned subsidiary, Wuhu GCL System Integration, by RMB 297 million ($41.3 million). With this, the registered capital of Wuhu GCL System Integration will increase from RMB 3 million ($0.42 million) to RMB 300 million ($41.7 million). This move is being initiated to speed up the construction of Wuhu GCL System Integration’s 20 GW (Phase I, which is of 10 GW) high-efficiency cell manufacturing facility.