LONGi 4GW Taizhou cell project readied to begin procedures in August
Feb 24, 2022 03:50 PM ET
- Leading solar producer LONGi is to include an additional 4GW of cell manufacturing capacity later on this year, drawing away funds previously earmarked for a different cell production plant.
Earlier today LONGi validated it is to redirect around RMB1.2 billion (US$ 160 million) of capital at first increased in 2018 to fund a 3GW cell project in Ningxia, China, with simply over RMB1 billion of that financing currently readied to fund the advancement of a 4GW cell project in Taizhou.
The remaining RMB194 million is to be utilized to strengthen the manufacturer's working capital.
LONGi said it had actually made the button after an assessment of the business's "strategic and also functional demands", worrying the change was an extra optimal use of internal resource.
The Ningxia project is anticipated to come onstream in August 2022.
Also read
- EU Ends 12-Year Duties on Chinese Solar Glass With No EU Maker Left
- Tesla Deploys 13.7 GWh of Storage in Q3 as Energy Revenue Falls 16%
- Peak Energy Raises $108 Million as GM Ventures Leads Sodium-Ion Round
- EU Innovation Fund Selects Holosolis 5-GW Solar Factory in €3.4B Round
- JinkoSolar Reports 28% Peak Efficiency for Back-Contact TAC Cell