GCL SI Unveils 12-GW Solar Module Factory in China
- Chinese photovoltaics company GCL System Integration Technology Co. Ltd is investing CNY 2 billion to construct a 12-GW solar module factory in Jiangsu province, a move that could have a significant impact on the global photovoltaic industry.
What happened?
Chinese photovoltaics company GCL System Integration Technology Co. Ltd (GCL SI) recently signed an investment agreement for a project to construct a 12-GW factory for photovoltaic modules in the Funing Economic Development Zone in Jiangsu province, China. The company plans to invest CNY 2 billion (USD 290.2m/EUR 272.6m) into the project and the production base will cover around 120,000 square metres (1.3m square feet). The project is scheduled to become operational by the end of October 2023.
Why does it matter?
The move by GCL SI is significant as it will provide a much-needed boost to the global photovoltaic industry. The 12-GW factory will be the largest of its kind in the world, and will allow the company to produce a large quantity of photovoltaic modules for use in solar energy projects. This will help reduce the cost of solar energy production, making it more accessible and affordable for consumers.
What's next?
GCL SI's investment in the 12-GW solar module factory is part of a larger strategy to expand its presence in the global photovoltaic market. The company has already signed a deal with the government of Wuhu, Anhui province, to install a 20-GW solar cell manufacturing base. Additionally, the company is also investing heavily in research and development to create more efficient and cost-effective photovoltaic modules. With these investments, GCL SI is likely to become a major player in the solar energy industry in the coming years.