Sungrow enters downstream solar market with 600 MW, $939 million investment

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Under the terms of the agreement, Sungrow has said it will invest around RMB 6 billion (~US$939 million) in developing 600 MW of solar PV plants on roughly 4,800 acres of agricultural land. The plants will be located around Chaohu city, 100 km from Sungrow’s HQ, and in the Yangtze River Delta region, all in east China.

Although it is still a framework agreement, the goal is to grid connect all 600 MW by the end of next December. The plants are expected to be integrated with agriculture projects, including greenhouses, fishponds or crops, for instance, by the end of June 2017.

In 2014, Sungrow shipped 4.23 GW of inverters. It is now focusing significant effort on downstream projects. In addition to installing PV plants, it is looking to get into EPC and plant ownership, in order to boost revenues.

Edited by Becky Beetz