LONGi Green Energy Technology has signed an investment agreement to set up a 10GW monocrystalline module manufacturing facility in China’s Guangdong Province.
It has been reported that LONGi Green Energy will create a holding subsidiary in Heshan City as the investment and operation entity of the project. The subsidiary will lease the factory buildings and auxiliary facilities provided by the owner, and be responsible for the purchase, installation and commissioning of production and process equipment.
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The estimated investment budget of the LONGi project company for the factory is RMB2.5 billion (US$349 million).
It is worth noting that the factory construction in Heshan City will effectively fill the gap in Guangdong and South China, which lack large-scale module production bases.
In the PV industry, Guangdong is known as “the early bird that didn’t catch the worm”, and is relatively lagging behind in terms of PV industry manufacturing. It has, however, started to catch up in recent years.
Guangdong is actively seeking to break the status quo, vigorously introducing enterprises with advantages in solar silicon wafers and solar cells, and supporting the growth of local high-quality PV enterprises.
For example, the city of Zhuhai proposed to adhere to the principle of “industry first”, rely on leading enterprises, cultivate and expand the new energy industry focusing on power cells, energy storage cells and PV equipment, and create a new pillar for the city’s economic growth.
In the field of PV inverters, Guangdong has also become a location for companies such as Huawei and Growatt.
The signing of LONGi’s 10GW monocrystalline module project will undoubtedly greatly enhance the module supply capacity in Guangdong, benefiting the Pearl River Delta and the entire South China region.
The Chinese province with the highest GDP, Guangdong enjoys abundant sunlight, developed industrial manufacturing and a conducive industrial environment and roof resources for distributed solar PV development.
Among the 676 rooftop distributed solar PV development pilot projects at the county (city, district) level in China, Guangdong has a total of 32, ranking sixth nationwide. It is the most favourable place in China for the development of distributed solar PV at the county level.
In April 2022, the 14th Five-Year Plan for Energy Development in Guangdong Province was released, proposing that the province promotes the development of energy industry agglomeration.