Haitai, Jinchen announce new solar factories in China


Haitai Solar has announced plans to invest around CNY 620 million ($91.2 million) in the construction of a new PV module factory in Qinhuangdao, Hebei province. The factory will have an annual capacity of 3 GW and will produce n-type solar products. The company aims to start construction within three months, with completion to take another nine months.

The solar panel maker says it is funding the project on its own. In August, it announced the launch of an initial public offering on the Beijing Stock Exchange. The company, which is recognized as a leading manufacturer by BloombergNEF, produces solar panels under its own brand. It also makes panels as an original equipment manufacturer for names such as JinkoSolar, JA Solar, Longi, and Trina Solar.

In a separate development, China PV production equipment manufacturer Jinchen said it is seeking to raise CNY 1 billion through a private placement of shares. It said it wants to invest CNY 410 million to expand production at its factory in Suzhou, China. The company said it will also invest CNY 310 million in the development of new production lines for heterojunction cells and modules, while setting aside an additional CNY 280 million for working capital.

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Jinchen received almost 10 GW of solar module production orders from India last year. It has said that it has an additional 8 GW under discussion. The list of manufacturers placing orders includes most of the big names in the Indian industry.

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