It additionally stated that is will invest RMB7.6 billion to set up the worlds largest concentrated photovoltaics (CPV) plant in Chengdu, Sichuan Province, China.
The group explained that it chose Singapore as its international headquarters, in order to manage its global solar business outside of China. This reportedly includes the assembly and sale of its CPV systems, as well as the management of its solar farm projects targeted for regions such as Australia, Middle East and South-East Asia.
The company has also said it will set up an R&D centre in CPV, which will collaborate with the Solar Research Institute of Singapore (SERIS).
Commenting on the groups plans, Mr Liu Han, Hanlong Groups chairman said: We chose to set up Zhonghan Solars first regional headquarters outside China here in Singapore, because of its sterling reputation as a global hub for clean energy, in particular solar energy. In addition, Singapores vibrant economy and its status as an Asian financial hub helped in our decision to invest here.
The group hopes to use Singapore as a spring board to international markets, as we seek to promote our solar energy solutions to the rest of Australia, Middle East and Southeast Asia.