China-based monocrystalline ingot/wafer producer, Solargiga Energy Holdings is relocating and centralising monocrystalline ingot and wafer production to cut costs.
Solargiga said in a financial filing that its production operations at various locations in Jinzhou City, Liaoning Province would be relocating plant and equipment to its main base at Jinzhou Economic and Technological Development Zone, Jinzhou City.
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As a result, Jinzhou Municipal Urban and Rural Planning and Construction Commission would acquire land use rights at one of the sites, providing Solargiga with around RMB182 million (US$28.6 million).
Solargiga said that the relocation of equipment had almost been completed at a cost of around RMB27 million (US$4.2 million).
The move was expected to improve the economies of scale and operational efficiencies, while minimising the overall operational and management costs associated with multi-site production.
