Chinese investment holding company Shanghai Tianchen Co., Ltd. announced it has signed an agreement with the government of Wuhu City, in China's southeastern Anhui Province, for the construction of a solar cell and storage system manufacturing facility in the Fanchang Economic Development Zone.
The company said the new factory is planned to have an annual solar cell capacity of 20 GW and a battery capacity of 20 GW. Initially the factory will have a cell capacity of 5 GW and storage system capacity of 6 GW
The project requires an investment of CNY 11.6 billion ($1.67 billion), the company said without providing further details.
In February 2022, Shanghai Tianchen signed an agreement with Chinese module maker Huasun. The two companies said at the time they aimed to set up a joint venture for the development of heterojunction solar modules, with Tianchen securing an 80% stake in the new company and Huasun holding the remaining share.
In February this year, Huasun started manufacturing panels in Anhui at its HJT solar cell factory in Xuancheng. The new factory will have an annual capacity of 2.4 GW and will exclusively produce bifacial 182 mm HJT cells based on a cell tech with a power conversion efficiency of 25.26%.
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