(Yicai Global) April 16 -- Longi Green Energy Technology Co., the world’s biggest supplier of mono-crystalline silicon products, will invest CNY1.2 billion (USD190.5 million) to build a wafer product manufacturing facility in Chuxiong in China’s southwestern Yunnan province.
The factory, to enter operation next year, will boast annual output equivalent to 10 gigawatts of solar-power generation, the Xian-based company said in a statement.
The country’s solar sector has undergone a dramatic transformation with annual installed capacity increasing from 5 megawatts, or less than 0.5 percent of the global total, in 2005, to 53 gigawatts in 2017, making up almost 40 percent of global additions. Last year represented the fifth consecutive year of growth for the domestic industry, which has accounted for half of all growth worldwide during the period.
The company’s Chuxiong Longi Silicon Material Co. unit has signed a tripartite agreement with the local governments of Chuxiong Yi autonomous prefecture and Lufeng county. The investment will provide capacity for the supply of high-efficiency monocrystalline silicon products for the local market and will also help the company to increase its market share, Longi said.
Yunnan is rich in solar energy and hydroelectric power resources and ranks top in terms of industrial silicon production nationally, thanks to its unique conditions favorable to the development of the industry.
The company signed an initial agreement with Chuxiong autonomous prefecture government in early December 2016 regarding the project.
Editor: William Clegg