LONGi Signs Investment Agreement for a 5GW Monocrystalline Cell Production Project

PVTIME – LONGi Solar announced yesterday that its wholly-owned subsidiary, LONGi Green Energy Technology Co., Ltd. (hereinafter referred to as the "Company"), has signed the “Investment Agreement for 5GW Annual Production Monocrystalline Cell Manufacturing Project” with the Management Committee of the Yinchuan Economic and Technological Development Zone.

The project is expected to be put into production in 2022 for an estimated investment of approximately 3.1 billion yuan. The specific implementation progress is subject to the approval of the Company's internal authority.

According to the announcement, as photovoltaic power generation enters the era of grid parity, global photovoltaic demand will continue to grow rapidly. The project investment agreement signed this time is in line with the Company's future cell capacity planning, which will help capitalize on its leading advantages in high-efficiency cell technology, seize the development opportunities in the photovoltaic market, further enhance its high-efficiency monocrystalline cell production capacity, and continuously improve its market competitiveness.

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