PVTIME – On March 13, LONGi Green Energy Technology Co.,Ltd.(601012.SH.) announced the signing of an Investment and Cooperation Agreement with the People’s Government of Erdos City and the People’s Government of Ejin Horo Banner on March 12. The company intends to invest in the construction of solar production base in Mengsu Economic Development Zone, Ejin Horo Banner, Ordos City, Inner Mongolia, with a total investment of 19.5 billion yuan.
LONGi has signed for monocrystalline silicon rods and slices project with an annual output of 20GW, with a total investment of 7.6 billion yuan. A project with an annual output of 30GW of high-efficiency monocrystalline solar cells, with an estimated investment of 10.3 billion yuan. And a high-efficiency PV modules project with an annual output of 5GW and a total investment of 1.6 billion yuan. Therefore, more than half of the funds will be invested in high-efficiency monocrystalline solar cells.
According to the agreement, LONGi will set up holding subsidiaries in Ejin Horo Banner and Ordos City respectively as main operators and managing & technical members of the projects. The construction period of the projects will no longer than 6 months, and are expected to be put into operation within 24 months, once the workshops, warehouses and ancillary facilities are handed over to LONGi. The specific implementation progress is subject to the approval of the company’s internal authority.