The solar industry is seeing a new wave of capital spending, with factories announced and under construction in Southeast Asia, India and the United States. However, last week saw one of the few announcements for new capacity within China.
In a Thursday notice on the Hong Kong Stock Exchange, Solargiga revealed plans to put 600 MW of PV module capacity online over the course of 2016, under a joint venture with Motech. Solargiga already has 600 MW of module production, and this will effectively double its capacity.
Solargiga and Motech will together invest US$3.1 million into Jinzhou Yangguang Motech Renewable Energy. This will give Motech a 19% of the company, as Solargiga had already invested US$6.2 million in Jinzhou Yangguang when it was established in October.
The JV company will also focus on design, construction and engineering of PV plants.