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.
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
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..