Monocrystalline wafer producer Longi Silicon Materials has signed a memorandum of understanding with the provincial government of Andhra Pradesh, India to build and operate a 500MW solar cell and module production plant.
Longi said in a financial filing that the 500MW plant was expected to need an investment of around CNY1.5 billion (US$234.8 million) and was planned to be located in Sri City, Chittoor region of Andhra Pradesh.
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According to PV Tech’s capacity expansions analysis, Longi has made several major announcements in 2015, totalling 6GW.
The company has previously announced it was planning a 3GW capacity expansion of monocrystalline ingot/wafer production, a 2GW monocrystalline solar cell plant in Jiangsu, China via its subsidiary, Leye Photovoltaic Science & Technology, and a 500MW monocrystalline module plant in Yinchuan City, China ahead of the latest 500MW of integrated cell and module capacity in India.
Longi reached a nameplate capacity of 3GW for monocrystalline silicon rods and wafers in 2014.
Longi recently reported first half 2015 revenue of around US$264.2 million, 15.3% higher than the prior year period.
The company said the MoU would be in place for three years..
