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.
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..