Longi to add 150 GW of wafer, cell production capacity in China's Shaanxi

China’s Longi Green Energy Technology Co Ltd (SHA:601012), or Longi Solar, has clinched a deal to expand its solar wafer and cell production capacity in Shaanxi province with an investment of CNY 45.2 billion (USD 6.67bn/EUR 6.18bn).

The Chinese solar module manufacturer said in a bourse filing on Wednesday it intends to build new facilities to add 100 GW of wafer and 50 GW of monocrystalline cell capacity, which will more than double its production capabilities from 2021 levels. The plan is underpinned by an investment agreement with the local government of Xixian New District, Shaanxi province.

Longi expects it will take up to 18 months to construct the factories, with installation planned to be carried out in several phases. Each stage will not last longer than six months. The facilities are set to kick off operations in the third quarter of 2024 and reach full production by the end of 2025.

The Chinese firm will use its own resources to finance the project.

At the end of 2021, Longi had 105 GW of wafer and 37 GW of cell production capacity, while its module production capacity was 60 GW. The company signed several contracts in the past year in line with a plan to reach 150 GW of wafer, 60 GW of cell and 85 GW of module manufacturing capacity at end-2022.

(CNY 1.0 = USD 0.148/EUR 0.137)

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