In a statement released, Alex Solar says it will finance, develop and ultimately own the project, which is said to be worth around 11 billion Yuan (approximately US$1.7 billion; 1.3 billion). It will comprise photovoltaic power stations on the western slope of Jinchang City, and a manufacturing facility. "The new factory will be developed in the area identified as the new Economic and Technological Development Zone which has a scale of 300 MW alone," it said.
According to Alex Solar’s website, the company currently manufactures 300 megawatts (MW) of wafers, and 600 MW each of crystalline silicon cells and modules. It reportedly aims to increase this to 600 MW, 800 MW and one GW, respectively, in 2012.
At the signing ceremony, Zhang Lingping , Municipal Party Committee Secretary, commented, "Jinchang City is rich in natural resources and its sizable territory provides a platform for developing solar plants employing unique grid architecture." Zhang further explained that the government will "be adhering to this agreement and will provide all the necessary support to ensure this project gets an early start achieving early results."
No further details have been released.