November 29 (Renewables Now) - China’s Longi Green Energy Technology Co Ltd (SHA:601012) this week unveiled plans for a new 10-GW manufacturing plant for monocrystalline silicon ingots in China’s Yunnan Province.
The solar products maker will implement the project in partnership with the Tengchong Municipal People's Government, expecting it will require an overall investment of around CNY 2.5 billion (USD 355.7m/EUR 323.1m). A cooperation agreement with the local government is already in place, Longi Green said in a bourse filing on Monday.
The new production facility will be installed within an industrial park in Tengchong City, at a site that was picked due to the availability of abundant solar and hydropower resources. It will start manufacturing operations gradually by the end of next year.
Last month, the company, through its subsidiary Longi Solar, announced it will invest CNY 6.3 billion to lift its solar module and cell manufacturing capacity by 10 GW and 5 GW, respectively by building new factories in Fujian Province and Shaanxi Province.
(CNY 1.0 = USD 0.142/EUR 0.129)