Zhongli Group’s Subsidiary Talesun Solar to Invest in 5GW HJT, 5GW Solar Module and 5GW PV Plant

PVTIME – On March 22, Jiangsu Zhongli Group Co.,Ltd. (002309.SZ) announced that the company’s wholly-owned subsidiary, Suzhou Talesun Solar Technologies Co.,Ltd. has signed the Cooperation Agreement with the People’s Government of Fuping county and its subsidiary Fuping Zhongwei New Energy for solar power projects.

According to the Agreement, the two parties will jointly set up a company named Hebei Zhongli Talesun New Energy Technology Co., Ltd. to in charge of the investment and construction of photovoltaic base locally. The joint venture is expected to complete a project including 5GW hterojunction solar cells and 5GW photovoltaic module manufacturing with a total investment of 5 billion yuan within 5 years. Meanwhile, the new company will invest in a 5GW “photovoltaic + modern agriculture” power generation project with a total EPC value of about 21 billion yuan.

Zhongli Group stated that it will adjust the business strategy according to its overall development plan in 2021, to pay more attention on photovoltaic industry. The company would like to increase its market share and promote its brand in PV business by expanding the sales scale of PV modules and cells, and then gradually alter to new energy industry.

The new projects are expected to positively influence the R&D in renewable energy of Zhongli Group, such as HJT, as well as promoting the mass production of its high-efficiency solar cells and modules, therefore piling up its market share with its N-type cells and modules.