China Resources Power to Invest 11 Billion Yuan for HJT Cell and Module Production

PVTIME – China Resources Power Holdings Co., Ltd. (hereinafter referred to as “CR Power”) will be establishing a 12GW high-efficiency heterojunction solar cell and module manufacturing project in the Zhoushan High-tech Industrial Park.

The project will primarily build 24 500MW second-generation heterojunction solar cell production lines and 24 500MW module encapsulation production lines among others. The total investment of the project is 11 billion yuan and Zhejiang Huahai New Energy Co., Ltd. is tasked with the construction of the project.

According to CR Power, the project will be constructed in 4 phases. Phase I is expected to be completed and put into production in one year. In addition, according to the estimates of the investors, the remaining phases will be fully operational by 2025. The average annual operating income of the completed project will reach 19 billion yuan, and the average annual profit will be about 2 billion yuan.

China Resources Power Holdings Co., Ltd. (CR Power) was founded in August 2001. As a listed subsidiary company of China Resources Holdings Co., Ltd., a Fortune 500 conglomerate, CR Power is known as one of the most efficient and most profitable integrated energy companies in China. Its business covers wind power, thermal power, hydropower, photovoltaic power generation, distributed energy, power sales, intelligent energy, coal mining, and other areas.

As of the end of 2020, China Resources Power’s total assets were 259.63 billion Hong Kong dollars, and its power generation operating equity installed capacity was 43,365MW. Its business covers 30 provinces, autonomous regions, municipalities and special administrative regions in China.