Polysilicon provider Tongwei continues to broaden its photo voltaic footprint, revealing plans this week to arrange a 25GW module manufacturing base within the Nantong Financial and Technological Improvement Zone, in China’s Jiangsu province.
Anticipated to require an funding of round RMB4 billion (US$574 million), the venture is scheduled to start development in 2023 and be put into manufacturing by the top of the yr.
Tongwei stated it should leverage its silicon and cell manufacturing footprint because it scales up module manufacturing.
The Nantong Financial and Technological Improvement Zone is likely one of the first 14 nationwide financial and technological growth Zones in China. The park is targeted on the event of next-generation info know-how and high-end tools, attracting important investments from PV firms.
Tongwei’s announcement comes after it revealed plans in September for a 25GW module manufacturing base in Yancheng, Jiangsu province, additionally representing an funding of RMB4 billion.
Flurry of module orders
Tongwei at the moment has a module manufacturing capability of 14GW. In 2023 the corporate plans to ramp as much as 25GW of module manufacturing in Nantong, 25GW in Yancheng and 16GW in Jintang, because it goals to succeed in a complete of 80GW by the top of the yr.
Business evaluation exhibits that Tongwei’s total planning within the module section might attain 100GW in the long run.
The corporate’s built-in enterprise structure has a aggressive edge: it should develop into the primary complete enterprise within the business integrating silicon material-wafer-cell-module.
Alongside accelerating its enlargement, Tongwei can also be acquiring extra module orders, regularly posting successful bids in China’s state-owned module procurement bidding course of in latest months.
China Sources Energy introduced in August that Tongwei Photo voltaic was profitable in a module procurement spherical because it bid RMB5.83 billion to safe its first large-scale module order.
Tongwei’s photo voltaic module shipments are anticipated to be 5GW this yr, earlier than rising to 30GW in 2023 and 50GW in 2024.
