GCL Integration has started building a 12 GW module factory in Funing, China's Jiangsu province. The Chinese PV panel maker says it is investing CNY 2 billion ($290.4 million) in the new facility, which will host 14 production lines.
GCL Integration expects to begin manufacturing activities at the new facility in October. With the new factory, its total solar panel manufacturing capacity will reach 30 GW.
The company also announced plans to raise CNY 6 billion through a private placement of shares. It said it will invest around CNY 3.88 billion in a new TOPCon solar cell factory with a capacity of 10 GW in Wuhu, Anhui province.
It said it will also invest CNY 1.2 billion in a new battery factory with a capacity of 10 GWh in Xuzhou city, Jiangsu province. In addition, it plans to build a 60 GW module factor in Hefei city, Anhui province.
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