PVTIME - Jiangsu Linyang Energy Co., Ltd. (601222.SH), a China-based company mainly engages in smart energy, energy saving and renewable energy solutions, disclosed on December 3rd that its subsidiary intends to sign an investment agreement with the Management Committee of Economic and Technological Development Zone in Nantong City, Jiangsu Province of China.
The two sides plan to invest and launch a high-efficiency n-type TOPCon solar cell production base and renewable energy related projects in Nantong City in three years, with a total investment of 10 billion yuan.
According to the announcement, the first phase of the solar cell project will reach an annual output of 12GW n-type TOPCon with an investment of 5 billion yuan. 6GW of the PI project is planned to be started in December 2022 and completed in July 2023 while another 6GW of PI is scheduled to be completed in March 2024, and reach the 12GW production capacity by May 2024. Then the second phase of the project aims to achieve an annual output of 8GW high-efficiency solar cell with a total investment of 5 billion yuan.
It is a milestone for the company to start the solar cell manufacturing business. The company intends to fulfill its PV integration production goal with its own production base including solar cell, module and energy storage products, therefore, to provide core equipment and solutions of PV and energy storage to customers.