Aiko Solar, a Chinese solar cell and module manufacturer, has signed an agreement with the government of Jinan, the provincial capital of China's Shandong province, to construct a new solar cell and panel factory.
It said it will invest approximately CNY 36 billion ($5.14 billion) in the new facility, which will have an annual capacity of 30 GW for both cells and modules upon completion.
The company plans to build the factory in three 10 GW phases over the next five years, with construction on the first phase expected to begin in early 2024.
Currently, the company has around 36 GW of monocrystalline PERC solar cell capacity spread across four factories located in Foshan, Yiwu, Tianjin, and Zhuhai.
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