China's GCL SI unveils plan for 12-GW module factory in Jiangsu

Chinese photovoltaics (PV) company GCL System Integration Technology Co Ltd (SHE:002506) has signed an investment agreement for a project envisaging the construction of a 12-GW factory for photovoltaic (PV) modules in China's Jiangsu province, a regulatory filing showed.

GCL SI, part of the Golden Concord Group (GCL), will pour some CNY 2 billion (USD 290.2m/EUR 272.6m) into the project, it said in a bourse statement last week.

The PV manufacturer has chosen a site in the Funing Economic Development Zone in Funing County as the preliminary location for the proposed facility. The production base will cover around 120,000 square metres (1.3m square feet). It is scheduled to become operational by the end of October 2023.

GCL SI said it will rely on its own resources, debt funding and government funds to finance the project.

The new plan comes two months after GCL SI sealed a deal with the government of Wuhu, Anhui province, to install a 20-GW solar cell manufacturing base, pledging to invest CNY 8 billion in the project.

(CNY 1.0 = USD 0.145/EUR 0.136)

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