Zhongnan Group Begins Building And Construction of a New 5 GW Solar Factory

Jul 15, 2021 11:46 AM ET
  • The group is the primary capitalist behind the well-known electric solutions company ReneSola, which is recognized for selling solar PV modules around the world.
  • The solar PV modules which will be produced in the new manufacturing facility will likely be offered under the premium brand "EVERSOLA" that was introduced in December 2020.

The Zhongnan Group lately held a ceremony to set up a brand-new solar production plant whose yearly manufacturing capability is said to be 5 GW. The group is the main investor behind the widely known electric services company ReneSola, which is understood for selling solar PV modules worldwide.

The event was held in Hai'an Economic Development Zone in Jiangsu Province, China, and the attendees included Mr. Yu Lizhong, the Secretary of Hai'an Municipal Party Committee; Mr. Chen Jinshi, Founder and Chairman, Zhongnan group; Mr. Zheng Lei, Chairman & President, Zhongnan Industry; and Mr. Sky Wang, CEO, Renesola Energy.

Established in 1988, the Zhongnan group places the 78th among the top 500 Chinese companies, the 11th among the leading 500 personal firms in China, the 17th among Chinese realty business and the 8th among the leading 500 Chinese building and construction companies.

The solar PV modules which will certainly be made in the brand-new factory will likely be marketed under the premium brand name "EVERSOLA" that was revealed in December 2020.

Hereafter ability enhancement, the overall SPV production ability will certainly be 7GW. Mr. Chen Jinshi claimed that the new 5GW plant will focus on the commercialisation of newest solar PV innovations.

Mr. Sky Wang said, "We are truly delighted to witness the realisation of the growth we forecasted two years back. The new plant will include a yearly output value of more than 10 billion yuan. The plant will mostly focus on the "210mm" cell based modules and completely compatible with the dimension below "210mm", so as to take the existing products right into account and likewise fill up the supply gap of large-size products in the future."

Last month, at the SNEC PV POWER EXPO 2021, in Shanghai New International Expo Center, Zhongnan Group-backed ReneSola unveiled a new item collection-- TWIN 3.0-- and attained many participating contracts to enhance its supply chain better. The product is stated to have a power rating upto 550Wp with effectiveness 21.5%, and is being offered with 12 years of item service warranty and three decades of the straight power service warranty by the business.