LONGi to invest US$6.7 billion in building new production base in China

Facebook
Twitter
LinkedIn
Reddit
Email
LONGi said the new production base will start operating in the third quarter of 2024. Image: LONGi Green Energy.

Solar manufacturer LONGi Green Energy Technology (LONGi) has announced an RMB45.2 billion (US$6.7 billion) plan to build a production base in China capable of manufacturing 100GW of solar wafers and 50GW of solar cells each year.

In a filing to the Shanghai Stock Exchange, LONGi stated that it had signed a letter of intent with two local governments in the Shaanxi Province. The new base, which will become the world’s largest solar manufacturing facility, is expected to begin operation in the third quarter of 2024. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

LONGi said in the filing that the agreement is “in line with the company’s future production capacity planning”. 

“(The agreement) is conducive for us to give full play to our leading advantages in technology and products. It is expected that the project will not impact our current operating income,” the company said. 

According to information on the website of the Jinghe New City of Xixian New Area, the production base will further exercise the leading advantages of LONGi and the Xixian New Area. 

“(Both parties) will carry out comprehensive and in-depth cooperation and co-create the solar production base.”

The Chinese company has been strengthening its production capacity in recent months. Last November, it signed an investment agreement to set up a 10GW monocrystalline module manufacturing facility in China’s Guangdong Province.

It was also reported that LONGi would 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.

The estimated investment budget of the LONGi project company for the factory was RMB2.5 billion (US$349 million).

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Sydney, Australia