PVTIME – On June 5, Risen Energy announced that the company and the management committee of Yiwu Economic and Technological Development Zone had signed a framework agreement worth 20.6 billion yuan for the construction of an expansion project capable of producing 15GW of high efficiency solar cells and 15GW of high efficiency modules annually.
According to the framework agreement, the project is to be constructed in two phases and will cover an area of approximately 165 acres. Phase I of the project will erect a 5GW solar cell and a 5GW module production line over the course of 2 years. Phase II, according to market demand, will add an additional 10GW in solar cell and 10GW in module production over the next 3 to 5 years.
Risen said this agreement, if successfully realized, will further improve the company’s PV cell and module capacity, technical and automation capabilities, cost control measures while enhancing its core competitiveness and increasing its global market share.