Jolywood said in financial filings that the non-public share offering resulted in raising around RMB 1.366 billion (US$210 million) for the production plant, which had been initially funded from in-house resources. Image: PV Tech
Major PV module materials and N-type mono IBC (Interdigitated Back Contact) bifacial module manufacturer Jolywood has recently secured over US$200 million for its first 2.1GW IBC solar production facility in a non-public share offering.
Jolywood said in financial filings that the non-public share offering resulted in raising around RMB 1.366 billion (US$210 million) for the production plant, which had been initially funded from in-house resources.
PV Tech previously reported limited production had started at the new facility in mid-2017.
Although many China-based PV manufacturers have been running R&D programs on IBC technology, Jolywood is one of the few to initiate volume production plans that exceed nameplate capacity of long-term IBC pioneer, SunPower Corp.
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