PVTIME - On September 22, LONGi Green Energy Technology announced it has signed an investment agreement with the Lijiang Municipal People’s Government to expand its monocrystalline silicon ingot production capacity in Lijiang by 10GW.
Previously, LONGi and the Lijiang Municipal People’s Government had signed investment agreements for the Lijiang 5GW annual production monocrystalline silicon ingot construction project (Phase I) and the Lijiang 6GW annual production monocrystalline silicon ingot construction project (Phase II) in July of 2016 and April of 2018, respectively. Both of these projects have been completed and are currently in production. On this basis, and in accordance with LONGi’s strategic development needs, the signing of the new investment agreement for the Phase III 10GW monocrystalline silicon ingot production project will further boost LONGi’s monocrystalline silicon ingot production capability in Yunnan Province. Huaping LONGi Silicon Material Co., Ltd., a wholly-owned subsidiary of LONGi, will invest approximately 2.5 billion yuan (including working capital) into the project.
Currently, in terms of monocrystalline silicon ingot production, LONGi has 20GW in Lijiang, 30GW in Baoshan, and 30GW in Qujing, tallying a total of 80GW in ingot production capacity in the province of Yunnan.
LONGi stated the project investment agreement signed this time is in line with the company's strategic needs for future capacity planning. Once the project is put into production, it will help LONGi to further improve its high-efficiency monocrystalline silicon ingot production capacity, seize photovoltaic market development opportunities, and continuously improve its market scale and competitiveness.