Anwell scores funding from local government for second thin-film production plant

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

The Municipal Government of Dongguan has supplied Anwell Technologies’ wholly owned subsidiary, Dongguan Anwell Digital Machinery, with US$108.67 million (RMB700 million), which will go towards the company’s development of a second thin-film solar panel manufacturing facility in Dongguan.

Since the Dongguan Government invested a significant portion of funds into Anwell, it will become a 19.5% shareholder in Dongguan Anwell, bringing the subsidiary’s value to US$680 million (RMB3.6billion). At the end of five years after the initial government financing, the Dongguan Government will have an option to sell its shares in the Anwell subsidiary to Anwell at cost plus interest.

“The entry of the Dongguan Government as a strategic investor in our subsidiary provides strong assurance to our shareholders, customers and other stakeholders on the long term viability of our solar business. The premium valuation given to Dongguan Anwell Digital Machinery by the Dongguan Government is a strong vote of confidence in our investment potential and future growth, as we significantly ramp up our production capacity to meet global demand for thin film solar panels,” stated Franky Fan, executive chairman and CEO of Anwell Technologies.

This recent investment comes just one month after Anwell secured over US$100 million from the Municipal Government of An Yang City in Henan Province for the expansion of its thin-film production in China. Combined, the two investments by the municipal governments of both cities total US$186.3 million (RMB1.2 billion). Anwell intends to reach a 1.5GW annual production capacity within five years.

28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.

Read Next

September 23, 2021
A project that bids to combine up to 20GW of solar PV with the world’s largest energy storage battery and a 4,200km-long subsea power cable has moved a step forward after Indonesian authorities greenlit its proposed transmission cable route.
September 23, 2021
US national residential and C&I solar plant performance assessment company Omnidian has completed a US$33 million Series B raise.
September 23, 2021
US developer Clearway Energy Group has signed a virtual power purchase agreement (VPPA) with Toyota in North America to supply the company with 80MW of power, accounting for 8% of the company’s regional operations
PV Tech Premium
September 23, 2021
Backed by a new heterojunction module factory in Florida and the expansion of its production plant in Minnesota, solar manufacturer Heliene is looking to take advantage of US policy support to meet increasing demand for American-made PV equipment. Jules Scully discusses the company’s growth plans with CEO Martin Pochtaruk.
September 23, 2021
Arizonan utility Salt River Project (SRP) and renewables company Clēnera have signed a 20-year power purchase agreement (PPA) for the CO Bar Solar project that is expected to deliver between 440-480MW of power
September 23, 2021
Russian wholesale electricity market administrator JSC ATS has allocated 775MW of solar PV in the country’s eighth auction round for largescale renewables, which had an average price of ₽5.18/kWh (US$0.071/kWh)

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021