The Chinese photovoltaic module manufacturer has secured RMB700 million (around USD$108.2 million; 75.3 million) from the Municipal Government of An Yang City in Henan Province. Broken down, this figure comprises RMB200 million cash funding and a government-backed guarantee provided of up to RMB500 million for bank financing.
In a statement, Anwells Franky Fan, executive chairman and CEO says that the goal is to increase thin film capacity to 1.5 gigawatts (GW) within the next five years. The reason cited for this expansion is "increasing global demand".
Commenting, Fan said: "Leveraging on our unique in-house equipment and R&D capabilities, we are confident that this investment will further strengthen the group’s position in the global solar market and put us on a long term growth trajectory."?
The company goes on to say that it is also in talks with the local government of another, unnamed, Chinese city, to secure funding for a second thin film panel production plant. "Anwell will make a separate announcement in a timely manner once the discussion is finalized," continued the statement.