Goodwe constructs new inverter manufacturing facility to reach 1.2 m systems annually

• Chinese solar inverter maker Jiangsu Goodwe Power Supply Tech Co Ltd (SHA:688390) will certainly get to production capacity of 25 GW, or 1.2 million systems each year, following year adhering to the conclusion of stage II of its Guangde production base.

The company, which presented a going public (IPO) in Shanghai last year, held a ceremony in May to mark the beginning of the project, which will allow it to fulfill growing need.

The new 68,000-sq m (731,946 sq ft) production center results from be completed in June 2022, with the production line to officially end up being operational in the 3rd quarter of 2022, Goodwe claims in a statement.

The financial investment in the building and construction of the plant is over USD 52 million (EUR 42.7 m).

Goodwe uses inverters for property, commercial and utility-scale systems, in addition to power storage space items. It says it has until now supplied more than 2 million solar inverters as well as installed 23 GW internationally.