Wuxi Shangji Automation Co Ltd. said last week that it will build a solar module factory in Jiangyin, China's Jiangsu province. The Wuxi-based monocrystalline silicon products manufacturer will invest CNY 5 billion in the new facility, which will have an initial annual production capacity of 16 GW.
The project's first phase will involve the deployment of 5 GW of panel capacity, at a cost of CNY 1.1 billion. Manufacturing activities at the new facility are expected to start in the third quarter of this year. The new facility will be built in the Jiangyin Lingang Economic Development Zone, in Wuxi, Jiangsu province.
Shangji Automation initially achieved revenue of CNY 800 million in 2019. Following a series of investments in the production of monocrystalline wafers and solar cells, it achieved revenue of CNY 10.9 billion in 2021. By the end of 2022, the company had reached a production capacity of 40 GW and 24 GW for wafers and solar cells, respectively.
In March 2022, Shangji announced a plan to invest CNY 11.8 billion in a silicon production base with an annual capacity of 150,000 metric tons (MT) of silicon metal and 100,000 MT of polysilicon. In August, the company decided to invest another CNY 15 billion for 25 GW of wafer- cutting capacity and 24 GW of solar cell capacity.
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