11.6 Billion Yuan! Tianchen to Launch 20GW Cell and 20GW Energy Storage Project in Anhui Province, China

PVTIME – On 16 June 2023, Shanghai Tianchen Co.,Ltd.(600620.SH) announced that it has signed a project investment agreement with the People’s Government of Fanchang District, Wuhu City, to jointly build an integrated solar power and energy storage base with a total planned investment of 11.6 billion yuan.

The project will be initiated by Tianchen New Energy, a subsidiary of Tianchen Group, to achieve production capacity of 20GW of high-efficiency solar cells and 20GW of energy storage converters and systems. A team of more than ten core members in technical R&D, production, sales and management, with many years of senior management experience in leading companies in the PV industry, is ready for the new production base.

This is the first time that Tianchen Group has entered the new energy industry. The company’s 2022 annual report shows that the operating income was 243 million yuan, of which the income from real estate business was 231 million yuan, and the rest of the business had transportation passenger business and property leasing business, but the income accounted for a relatively small amount.

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